8 matching question in water economics class, having a difficult time finding answers to any of these really.

| November 24, 2016

1. Microeconomics

2. Macroeconomics

3. Opportunity cost

4. Marginal rate of technical substitution

5. Primary sectors

6. Secondary sectors

7. Tertiary sectors

8. Quaternary sectors

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A. Includes agriculture, forestry, fishing, and mining.

B. Includes finance, insurance, real estate, and public administration.

C. Provides a framework for examining the value of water to an individual household, firm, or industry.

D. What you have to forego when you choose to do one thing instead of another, or the cost of foregoing the use of water for its best alternative purpose.

E. Includes transportation, wholesale trade, and retail trade.

F. Provides a multi-sector framework for understanding how water resources contribute to economic activity at a regional or national scale, as measured by such indicators as employment and gross domestic product (GDP).

G. The amount by which the quantity of one input has to be reduced when one extra unit of another input is used, so the output remains constant.

H. Rely heavily on industries including agriculture, forestry, fishing, and mining. Includes utilities, manufacturing, and construction.

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