Discuss the impacts that oil prices have on the economy

Reference no: EM13766075

1. Briefly explain the factors of production and give an example of each.

https://www.youtube.com/watch?v=j9OtQv5eH4w

2. This video clip examines supply and demand of oil. Please discuss the impacts that oil prices have on the economy . What happens when to oil prices when the economy slows versus when it is growing?

3. Consider products that you use in your everyday life. Provide an explanation and give at least one example for each of the following: a normal good, an inferior good, substitutes, and complements.

4. Explain why an increase in quantity demanded is not the same as an increase in demand. Which of these would be associated with a rightward shift in the demand curve? What are non-price determinants that could lead to a shift in the demand curve? Is an increase in demand or quantity demanded associated with a movement up the supply curve?

5. Consider the following scenario and state the expected change in the supply or demand curve. You should note whether the scenario indicates a shift of the curve or movement along the curve: You are a supplier of widgets. The available technology to produce your product suddenly improves.

Reference no: EM13766075

Questions Cloud

Are energy drinks safe for use by young people : Are energy drinks safe for use by young people? What are the safety implications? Should the purchase of energy drinks be regulated? Why or why not?

What type of dispute was present : In one of the Internet's the most well-known intellectual property cases, the Recording Industry Association of America (RIAA) sued Napster, a file-sharing site. Founded in 1999, Napster allowed users to share music files and thousands of people b..

Ron and bob''s stereo sellstelevisions and digital video : 2.Ron and Bob's Stereo sellstelevisions and digital video recorders (DVRs). The company has estimated thedemand for these items and determined there are three consumer types (A, B andC) with equal numbers of each (assume 1 of each for simplicity). Th..

Create and save a document named design plan pdf : Use the document formatting outlined in the syllabus and create a heading called Design Plan

Discuss the impacts that oil prices have on the economy : Discuss the impacts that oil prices have on the economy and what happens when to oil prices when the economy slows versus when it is growing?

Independent variable and the dependent variables : What are the independent variable and the dependent variables and should Katie conduct a between-subjects ANOVA or a within-subjects ANOVA? Explain your answer.

How does iago continue to manipulate people : How does Iago continue to manipulate people? How is the plan coming together? What is the mood of this scene?

Explain information systems for decision making : Create a hierarchy of five (5) (no more or no less) of the most important topics that you believe need to be addressed in this one-day course that best fits the course title of "Information Systems for Decision Making

How is an aggregate demand curve derived : Explain what would cause the government purchases function to increase. Will a change in social security spending affect government purchases?

User Account

All Pages