When the price of oil drops this usually means that OPEC or a major state within OPEC like Saudi Arabia, or Venezuela has increased the supply of oil leading to a drop in price. This is the current policy of the Saudi Government which has led to a drastic decline in oil prices over the last 3 to 4 months.
Answer:
Consumers have access to more variety at cheaper prices.
Explanation:
Consumers have found prices increasing due to the limited avaliability of goods. Consumers have less income and therefore are able to buy less due to globalization.
Answer:
Abiotic resources are usually obtained from the lithosphere, atmosphere, and hydrosphere. Examples of abiotic factors are water, air, soil, sunlight, and minerals. Biotic factors are living or once-living organisms in the ecosystem. These are obtained from the biosphere and are capable of reproduction.
