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Why Is Water Not Viewed as Your Typical "Economic Good

Question 3

Multiple Choice

Why is water not viewed as your typical "economic good"?


A) The law of supply and demand does not exist when talking about water because you cannot choose what company's water is piped into your house.
B) The price of water that is ultimately set is based on a lot more than just market mechanisms.
C) Social and political factors also shape the cost of tap water (like subsidies for electricity that power pumps) .
D) All of the above.

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