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Prices Of Resources

A detailed example of Prices of resources and how it affects supply and demand

Ryan Lipyanic

on 26 April 2010

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Transcript of Prices Of Resources

Prices of resources
Affect the way goods are produced The cheaper the resources, the more production and higher the cost of resources less produced Lower cost of resources encourage more production and eventually expansion so companys can produce even more. 1990The price of crude oil spiked in 1990 due to the Iraqi invasion of Kuwait and the Gulf War. The 1990s brought improved technology in drilling and production techniques.January$21.42 July$17.47 February$20.83 August$25.69 March$19.10 September$32.52 April$17.23 October$34.69 May$17.36 November$28.38 June$17.64 December$26.00
Yearly Average$23.19 2009 Crude Oil Price Per barrelJanuary$33.07 July$56.16 February$31.04 August$62.80 March$40.13/$39.88 September$60.98 April$42.45/$42.20 October$67.43 May$51.27/$51.02 November$69.43 June$61.71/$61.46 December$66.33
2009 Average$53.56/$53.48 We aren't able to Get enough oil
To support our needs so price of gas
is increasing due to lower resources Currently resources are limited and cannot
Produce enough gas to support our needs
also causing the price to skyrocket. Gas prices in 2009 due to limited resources THE END
www.ioga.com/Special/crudeoil_Hist.htm Hello
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