Use the information below to answer the following questions.
Fact 5.3.1
Only 1 percent of the world supply of water is fit for human consumption.Some places have more water than they can use;some could use much more than they have.The 1 percent available would be sufficient if only it were in the right place.
-Refer to Fact 5.3.1.If there were a global market in water like there is in oil,
A)the supply of water would decrease.
B)less water would be made available to countries that experience drought.
C)supply and demand would determine the price of water and those who are willing to pay the equilibrium price would get the water.
D)the demand for water would increase.
E)countries with a shortage of water would pay an exorbitant price for water.

Question

Quizplus · Accepted Answer

If there were a global market in water like there is in oil, supply and demand would determine the price of water and those who are willing to pay the equilibrium price would get the water. This means that countries with a shortage of water would have to pay more for water, but it does not necessarily mean that the supply of water would decrease or that less water would be made available to countries experiencing drought. The demand for water may increase due to the market, but this is not specified in the given information.

Use the Information Below to Answer the Following Questions