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guapka [62]
3 years ago
12

Describe two ways demand for petroleum has been reduced.

Geography
1 answer:
tigry1 [53]3 years ago
8 0

Answer:

The most striking feature of the oil market is the low price elasticity of demand.

The supply of oil is also fairly inelastic.

Oil price swings tend to be dramatic and often impact the rest of the economy.

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