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Economics is the study of how human beings coordinate their wants and desires, readyn the decision-making mechanisms, social customs, and political realities of the society (Colander, 2004, p. 3-4). There ar two problems that hold off any economy on a given conglomeration this is how much should be produce and who it should be produced for. This paper give summarize an article from Chevron, and the give and demand on mess up up and why prices outgrowth. Throughout the years, the cost of gasoline has fluctuated greatly. Consumers throw watched in idolatry as prices submit plummeted squander to little than a buck a gallon and up to to a greater extent than three dollars a gallon. In the wake of Hurri nookyes Katrina and Rita, the U.S has seen gas prices skyrocket. The great single gene that may contribute to the rise and conk of gas prices are fluctuating demands and competition within the concealing industry. Several factors will govern what causes the rise of gas prices. These can include natural disasters, or other factors. As give tongue to by Chevron: Crude fossil rock oil prices have risen dramatically over the last year, determined by strong global demand, limited spare oil employment capacity, continuing political instability in veritable oil producing regions, and most recently reduced supply from the violation of hurricanes in the Gulf of Mexico (2005, p. 1). During the hurricane, supply stations had to be unopen down or were severely damaged by the storms. This caused a supply and demand problem within the United States. Individuals and families were evacuating the range and were in need of gas to get out of the touch on areas. Due to the shut downs individuals across the country were panicking that there would non be enough gas and were heading to the pumps in droves. This caused an emergence in demand when there... If you want to get a make up essay, order it on our website : Ord! erCustomPaper.com

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