2007-11-12 20:21:18 · 4 answers · asked by jasmin r 1 in Social Science ➔ Economics
nothing effects the economy more than petrol!
petrol is used in commercial transport, building, personal use........has what is called flow on effects as the petrol market effects all other markets (obvious example transport)
a good way to show the effect is to compare it with other markets eg if the price of potatoes goes up it will have little or no effect on other markets but petrol (through transport) affects all markets
hope that helps
2007-11-12 20:36:18 · answer #1 · answered by Anonymous · 0⤊ 0⤋
crude is used in manufacturing many products, car and truck fuels, heating oil, plastics, LPG products, lubricants.
It cost is tied to the cost of getting food and other products into our stores.
It effects every aspect of our economy and way of life as we know it.
2007-11-13 04:32:46 · answer #2 · answered by Jan Luv 7 · 0⤊ 0⤋
oil prices have affect on the short run n in the long run...
2007-11-13 08:38:57 · answer #3 · answered by lundul 2 · 0⤊ 0⤋
watch what happens to food prices
airline tickets
not to mention GAS @ $4
clothing
it impacts every facet of our economy
we are in deep trouble - and haven't realized it , yet
2007-11-13 04:27:26 · answer #4 · answered by tom4bucs 7 · 0⤊ 0⤋