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dimaraw [331]
3 years ago
14

How does supply and demand affect the price of oil?

Geography
1 answer:
labwork [276]3 years ago
7 0

Answer: The law of supply and demand primarily affects the oil industry

Explanation: by determining the price of the "black gold." Expectations about the price of oil are the major determining factors in how companies in the industry allocate their resources. Prices create incentives that influence behavior.

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Changing this practices is very challeging, but this does not mean that no porgress has been made. In countries like South Korea and Japan, Women enjoy almost the same legal rights as men for example.

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