0
What else can I help you with?
Why the demand for vehicles is very high as the petrol rises?
The only demand that will become high when petrol prices rise is the demand for fuel-efficient cars.
What are the disadvantages of living in America?
There are many good hings about living in America today, but there can be some bad. Many times, the gasoline prices have risen and the market prices are rising. The economy isn't doing any better, mainly because we have annoying politics.
What year was gas 36 cents per gallon?
Although gasoline prices fluctuated and varied in different parts of the country, it was around 1970 when the median price for a gallon was 36 cents.
What would be the most likely result if the Chinese government decided to discontinue the subsides?
In apex the prices of solar panels made in China would rise
Did Gas and oil prices fell during the Reagan presidency?
No. They have been going up little by little for the last 30 years since the 1970's oil crisis. The oil companies and speculators have been pushing prices to the 5.00 a gallon mark. It is finally there even though demand has gone down.
What is likely effects of this high demand on gasoline prices?
The Price of the gasoline with increase : D
What is an example of a good for which the demand is likely to become more elastic over time if prices change dramatically?
gasoline
An increase in the demand for gasoline today caused by concerns that gasoline prices will be higher tomorrow is most likely attributable to consumer expectations or consumer preferences?
consumer preference
If the amount of gasoline available for sale suddenly drops for some reason but the amount that people want to consume remains unchanged what will happen to gasoline prices?
If the amount of gasoline available for sale suddenly drops while consumer demand remains unchanged, gasoline prices will likely increase. This is due to the basic economic principle of supply and demand: a decrease in supply, with constant demand, creates a shortage that drives prices up. Consumers may be willing to pay more to obtain the limited gasoline available, leading to higher market prices.
How much do higher gasoline prices contribute to inflation?
It's the contrary, inflation contributes to higher gasoline prices. But not so much as everybody thinks. The major cause for increasing gasoline prices is the resource. Less resource for higher demand, higher prices
Do the increase of cars effect gas prices?
Yes, the increase in the number of cars can affect gas prices, primarily due to higher demand for fuel. As more vehicles hit the road, the demand for gasoline rises, which can lead to increased prices, especially if supply does not keep pace. Additionally, factors such as geopolitical events, refining capacity, and seasonal changes can also influence gas prices in conjunction with vehicle demand.
Why do gas prices go up during the summer?
People do more traveling in the summer so the demand for gasoline increases. With higher demand, prices increase to compensate. Also, there is higher demand for heating oil in the winter. It is not possible to refine heating oil without also producing gasoline; so there is a surplus of gasoline in the winter, which tends to lower the price.
What did gasoline cost in 2010?
In 2010, gasoline prices in the United States averaged around $2.80 per gallon. Prices fluctuated throughout the year, influenced by factors such as crude oil prices, seasonal demand, and geopolitical events. By the end of 2010, average prices were closer to $3.00 per gallon.
Is the price of gasoline is microeconomic or macroeconomic?
The price of gasoline is primarily a microeconomic issue, as it relates to the supply and demand for gasoline in specific markets. Factors such as production costs, consumer preferences, and competition among suppliers influence local gasoline prices. However, it can also have macroeconomic implications, as changes in gasoline prices can affect overall inflation rates and economic activity.
What best describes the price changes in gaseonline?
Price changes in gasoline are primarily influenced by factors such as crude oil prices, supply and demand dynamics, geopolitical events, and seasonal variations. Typically, prices rise during peak driving seasons or in response to disruptions in oil supply, while they may decrease when supply is ample or demand wanes. Additionally, regional differences in taxes and refining costs can lead to variations in gasoline prices across different areas. Overall, gasoline prices tend to be volatile and can fluctuate frequently.
If the prices have a little effect on the quantity of a product demanded the product is said to have?
inelastic demand
What are some reasons why prices rise?
Prices generally are the result of the combined effect of supply and demand. Scarcity causes prices to rise, since there is more competition to obtain scarce items, and demand causes prices to rise, since people will be willing to pay more for something they strongly want.
