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Determinents of Supply and Demand

Essay by   •  April 12, 2011  •  Essay  •  296 Words (2 Pages)  •  1,150 Views

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Gas and Oil are very high in demand all over the world. Countries with oil for supply to the United States is becoming critical. Asia is just one country that has oil and it is brought over to the United States. The United States has one billion barrels of oil in storage not yet being used. Why? Some say for a cotastrophy to happen. Oil is fifthteen percent gas. Today. Gas is very high in demand and the oil is where it comes from. Travel, cars, machinery, personal use, are just a few reasons why gas is in demand. We depend on gas for atleast half of this world to function. Its predicted that by the summer of 2011 gas will be five dollars per gallon. Its also been said that another thirty to forty years is all that is left of oil in the world.

Should trading be how gas is priced? Or should government do something? That's something we can't predict at this time. Gas at oone time was one dollar per gallon. Today it's $3.75 per gallon. The consumer is in need of supply for gas for the daily routines. The demand could be for various reasons, keeping a supply of something that is a need for; supply is imperitive. Take a hospital for example, this hospital must keep a certain antibiotic at all times because there's only two antibiotics-the other is rarely used. It must be supplied and shipped in a timely manner to keep stocked. Now, prices are going up for this supply and the demand for it is nation wide. Cost are going up for supply, and a demand for it because of the need.

We will always have supply and demands. Gas and oil are two major supply and demands.

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