Thursday, July 24, 2008

Unit 1: How S&D explain the price of oil

A really good explanation of the application of S&D to the price of oil from the BBC

http://news.bbc.co.uk/1/hi/business/7519414.stm

a) What demand factors effect the price of oil?
b) What supply factors effect the price of oil?
c) Why does the price of oil change daily when many of these factors do not?

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