Question 1 whats the best way to think about the rise in, Ask an Expert

Economics

Question: 1. What's the best way to think about the rise in oil prices in the 1970s, when wars and oil embargoes wracked the Middle East? Was it a rise in demand, a fall in demand, a rise in supply, or a fall in supply?

2. What's the best way to think about the rise in oil prices in the last 10 years, as China and India have become richer: Was it a rise in demand, a fall in demand, a rise in supply, or a fall in supply?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92651661

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