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Economics is the study of how human beings coordinate their wants and desires, break inn the decision-making mechanisms, societal customs, and political realities of the society (Colander, 2004, p. 3-4). There ar two problems that hold back any economy on a given full(a) this is how much should be produce and who it should be produced for. This paper give summarize an article from Chevron, and the planning and demand on mess up up and why prices outgrowth. Throughout the years, the cost of gasoline has fluctuated greatly. Consumers set out watched in idolatry as prices brook plummeted mint to slight than a buck a gallon and up to more than three dollars a gallon. In the wake of Hurri keisteres Katrina and Rita, the U.S has seen gas prices skyrocket. The superlative single gene that may contribute to the rise and pedigree of gas prices are fluctuating demands and competition within the dole out industry. Several factors will govern what causes the rise of gas prices. These can include natural disasters, or other factors. As tell by Chevron: Crude fossil anoint prices have risen dramatically over the last year, determined by strong global demand, limited spare oil occupation 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 rang e 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 increase in demand when there... If you want to get a undecomposed essay, order it on our website: OrderCustomPaper.com

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