  We study the frustration properties of the Ising model on a one-dimensional
monoatomic equidistant lattice, taking into account the exchange interactions
of atomic spins at the sites of the nearest, next-nearest, and third neighbors.
The exact analytical expressions for the thermodynamic functions of the system
are obtained using the Kramers--Wannier transfer matrix technique. Criteria for
the emergence of magnetic frustrations in the presence of competition between
the energies of exchange interactions are formulated. The points and intervals
of the existence of frustrations, which depend on the values and signs of the
exchange interactions, are found. The features of the entropy and heat capacity
of this model in the frustration regime and its vicinity are investigated.
Non-zero entropy values of the ground state of a frustrated system, as well as
a two-peak temperature structure of the heat capacity in the vicinity of the
frustration point, are found.
