1. Assessing the Impact of Lower gas prices in Alterative Fuel Vehicles and the Consumption of Alternative Fuels
Throughout the last fifty years of oil and gasoline consumption throughout westernized nations including the United States, the elasticity of demand for these fuels has been more dictated by the pricing decisions of OPEC over pure market forces. With the turbulent pricing of gasoline on a global basis throughout the 21rst century, the traditional interrelationships between demand and pricing have become completely disengaged from each other. There is in fact no clear definition of elasticity of demand for fuels, as the effects of oil futures trading, OPEC pricing models and decisions, the incl...
- Word Count: 874
- Approx Pages: 3
- Has Bibliography
- Grade Level: High School