Some governments may cap the prices of essential goods such as food and fuel to ensure access to these essential goods and to prevent profiteering. The German government pledged to cap energy prices due to the shortage of Russian natural gas following the Russian invasion of Ukraine in 2022.4 Pr...
No one likes to see prices rise, but it's not like this is the first time. When the U.S. had two gasoline crises in the 1970s, the problem wasn't so much big increases in the price of fuel; it was the lack of fuel. Drivers learned to figure out the range of their vehicles....
2.List and explain some of the determinants of the price elasticity of demand.需求的价格弹性取决于许多形成个人欲望的经济、社会和心理因素。通常，需求价格弹性主要由以下几个因素决定：（1）必需品与奢侈品。必需品倾向于需求缺乏弹性，奢侈品倾向于需求富有弹性。（2）相似替代品的可获得性。有相似替代品的...
determineswhogetsthe product? •Queuingandlinetickets •Specialgroupings •Favoritism •Rationing,suchascoupons 7 Whataresomeexamples ofPriceCeilings? Whataresomeexamples ofPriceCeilings? WorldWarIIrationing Gasinthelate1970’s Rentcontrolinsomecities ...
a price goes down/falls/decreasesIn real terms, the price of clothes has fallen over the last ten years.a price shoots up/soars/rockets (=increases quickly by a large amount)The price of oil soared in the 1970s.prices fluctuate (=keep going up and down)Gas prices have continued to ...
The last time the average price of gas was less than $2 was 15 years ago, in 2004. The average price of gas then was $1.88. How much was gas in the 90s?The average price of gas in the 1990's was just shy of $1.15. Gas Prices by State What are the top five states with the...
Many unforeseen events can also impact the price of crude oil, driving it up for down. For example: After theIranianrevolution in the late 1970s, the price of oil rose sharply. The 2020 outbreak of the COVID-19 pandemic saw crude oil plummet to a negative price per barrel. The IEA exp...
Nuclear was the energy alternative in the 1970s. Nuclear power produces vast amounts of electricity more cheaply than gas or coal, with no carbon emissions. For a number of years in the 1980s and '90s, however, use of nuclear power declined due to accidents, concern...
BSC, however, made significant strides in 2021 partly due to traffic overload and high gas prices on Ethereum as well as the growing interest in both Decentralized Finance (DeFI) and NFTs. Much like Cardano, Solana, and Terra, Binance Smart Chain consequently became a valid alternative to ...
using algorithms. Algorithmic software’s interest lies in supply and demand curves, not price gouging. Banning these tools will not lower rents; in fact, doing so would create more inefficiency in the rental market, further distorting prices and worsening the housing crisis. Sort of like ...