Titusville, PA is the location of the first major oil strike in the United States.
In many ways, Titusville marked the beginning of America's obsession with oil and with the business world's interest in oil as a major economic driver.
A link between economic wants and preferences is always the basic needs that are essential for our daily life. Preferences can be made after defining the economic wants and basic needs of the people involved.
When the price of a good increases, the quantity demanded will decrease and vice versa. I’m not sure if this helps or not but if you can give me the following answers I will give you the exact answer :)
