Final answer:
Lake Titicaca is located in South America, specifically on the border between Peru and Bolivia. It is the highest-elevation navigable lake in the world and supports agricultural activities due to its moderating effect on temperature.
Step-by-step explanation:
Lake Titicaca is located in South America, specifically on the border between Peru and Bolivia. It is situated in the Altiplano Region of the Central Andes and is the highest-elevation navigable lake in the world. The lake spans about 120 miles in length and 50 miles in width, with a surface elevation of approximately 12,000 feet above sea level. The area around Lake Titicaca has a moderate temperature due to the lake's ability to absorb solar energy during the day and release heat at night, allowing for agricultural activities.