Water shortage Assignment

How can water shortages be addressed? Think about demand for water, and supply of water.

Answer two of these:

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How should the price be set?

What should the roles of the public sector (government) and the private sector (business and nonprofits) be?

How do you think economics could help make these decisions?

SAMPLE SOLUTION

How Can Water Shortages Be Addressed? Water scarcity refers to the unavailability of sufficient water to meet the needs in a given area. It affects more than 2.8 billion people around the globe. The good news is that there exist practical and replicable solutions for water shortage. A good number of these solutions focus on regulating the demand and supply of water. On the one hand, water demand can be controlled by behavioral modification through actions such as the installation of metering equipment to encourage water saving behaviors like not using hose pipe while cleaning your car. Other demand-side behavioral adjustments include toilet user…

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