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In: Economics

1. how does the scarity of water affect your daily life? 2. how are you using...

1. how does the scarity of water affect your daily life?
2. how are you using your retional self interest to determine the demand for this resource?

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Expert Solution

Question 1

There is a scarcity of natural resources in the global economy. Several governments are even trying to achieve the aim of sustainable development. One of the most important natural resource that is scarce now is water. Scarcity of water affects our daily life very adversely. Some of these effects are-

  1. One of the major effects that human experience in daily lives is unavailability or shortage of drinking water in several areas.

  1. Water scarcity causes diseases. Water helps us to bathe and kills the germs present in our body. Shortage of water has consequences of other diseases also.
  1. Sanitary problem is an another problem that is experienced. Water scarcity cause problems with cleaning dishes, and clothes which makes things unhealthy at home.

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