Only about 10% of the world’s population lives in areas where water exists scarce is the correct statement about water supply and demand.
Supply in economics exists described as the total amount of a provided product or service a supplier offers to consumers at a provided period and a conveyed price level. It exists usually specified by market movement.
Demand exists in the quantity of a good that consumers stand willing and able to purchase at different prices during a provided period. The connection between price and quantity demand exists also named the demand curve.
supply and demand exist as an economic model of price decisions in a market. It postulates that holding all else equivalent, in a competitive market, the unit price for a certain good, or other traded item such as labor or liquid financial assets, will vary until it determines at a point where the quantity demanded (at the current price) will equal the quantity supplied (at the current price), resulting in an economic equilibrium for price and quantity transacted. It creates the theoretical foundation of modern economics.
Only about 10% of the world’s population lives in areas where water exists scarce is the correct statement about water supply and demand.
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