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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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