Rising Gasoline Prices Over the past four years‚ Americans have been battling with high gas prices. The price of gas affects everyone’s lives. High gasoline prices hurt many people’s budgets. The prices at the gas pumps are not our only concerns. If gas prices go up then the cost of consumer products will go up. Many people need gas to drive to work. Gas prices continue to increase‚ making people in the United States feel the affects. Gas should be made affordable so it does not negatively interrupt
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DEMAND FOR GASOLINE According to the law of demand‚ when the price of a good and the quantity demanded have an inverse relationship. When the price of a good increases‚ the quantity demanded decreases. There are various factors affecting the demand for gasoline. These include: 1. The availability and prices of substitutes and complements: A good is referred to as a substitute for another good‚ when it can be used as a replacement for the good. When the price of one good goes up‚ the demand for
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March 2008. AMERICANS START TO CURB THEIR THIRST FOR GASOLINE. SLIDE 2 In recent years‚ the world ’s appetite for gasoline and diesel fuel grew so quickly that suppliers of these fuels had a difficult time keeping up with demand. We all know the situation with gasoline prices for the resent several years. The prices for gasoline had been changed rapidly. Mostly increasing‚ while the demand for it did not. For example‚ gasoline prices by Feb. 2008 rose to an average of $3.13 a gallon‚ that
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The Impact of High Gasoline Prices As long as natural resources become diminish ‚tense relationship between the middle east and the United States and other potential reasons‚ the price of gasoline rises up. Actually our daily product and economy are immediately related to national oil price‚ so any fluctuation in prices will influence our society directly. Nowadays‚ the government decided to raise the price of domestic oil. This policy has caused many complaints from Taiwanese citizen these recent
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2010 Tak_meng82@hotmail.com Everyone’s Gasoline Problem Gasoline prices in Hennepin County have risen from $ 2.283 to $2.69 over the last 12 months with a series of price fluctuations in between. Prices fluctuate for a number of economic reasons. One such reason is supply and demand. We have seen gas prices raise after 9/11 and more importantly after the start of the war with Iraq. So‚ why does supply and demand lead to fluctuation of gasoline prices? It is quite simple if we understand the laws
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EXERCISE 1 QUESTION 1. Everyone’s Gasoline Problem It is a fact that gasoline prices can become high enough that consumers will make substantial reductions in their gasoline purchases. Depending how much prices increase relates on how easily consumers can adopt to substitutes for gasoline . This would include taking public transportation. Studies have reported that consumers do not easily find substitutes for gasoline‚ and that prices must increase significantly to
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1.Everyone’s Gasoline Problem. We are all familiar with fluctuating prices of gasoline at the pump. Why does this happen? Research the recent history of gasoline pricing in your area‚ and attempt to relate any fluctuations you observe to documented supply and demand factors‚ as outlined in our book. Be sure to cite any references used. The price of gasoline at the consumer level is the result of a combination of factors: the price of one of the largest bulk commodities (transferable goods)‚ the
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Crude Oil and Gasoline Prices June 2009 Axia College/University of Phoenix Crude Oil And Gasoline Prices Since the early Seventies‚ energy consumers have been on a roller-coaster ride of wild and woolly price swings‚ producing a kind of economic whiplash. Petroleum and gasoline prices are especially prone to price volatility. Sometimes the cause of a price increase is obvious and dramatic‚ like an oil embargo or hurricane. Other times less so‚ as when a refinery goes offline for periodic maintenance
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Gas Prices Work Image Gallery: Hybrid Cars Photo by Justin Sullivan/Getty Images High gas prices can make you stop and think about your commute. See hybrid car pictures to see models that save you money.In May 2008‚ average gas prices in the United States approached‚ and in some places passed‚ $4.00 a gallon‚ shattering records. But this was nothing new to American consumers. May was a month of records that broke one after another‚ and that came on the heels of months of rising prices. And
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PROBLEM-SOLUTION ESSAY A problem-solution essay is an essay in which you analyze a problem and propose a method for solving it. Actually‚ the major part of a problem-solution essay is explaining what the solution to the problem is and arguing that this solution will be effective‚ easy to impliment‚ better than other solutions and cost-effective. A problem-solution essay should have the following characteristics: • a problem that needs to be solved • a thesis statement that identifies the problem
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