Honestly if you think about it petroleum affects every single aspect of your life...how much you pay for groceries how much money you make at work...etc
cause in real life market never remains at equilibrium, many factors affect market price and quantity
As a consumer, the law of supply and demand affects our everyday life. The food we eat are subject to the same law, that at higher prices, producers are willing to offer more products for sale than at lower prices. We can only substitute the brand or prefer the lower price if there is no change in quality.
It would be inelastic because people will pay almost any price for life-saving drugs.
Inelastic goods are those that we have to buy no matter what the price goes up to. For example gasoline, we can cut back but we have to have the gasoline at some point for our cars. Heating oil for our homes is another example. When there is no substitute for a product and it is necessary for everyday life it is inelastic. How about health care? Can we survive without a heart transplant, or a life saving operation?
Global trade encourages growth in technology and communications
How does petroleum oil help us in our everyday lives
cit is in bills you pay or in accounting the price you pay for something math is in our everyday life. it's good to know.
it dosen't
It provides guidelines and rules for everyday conduct.
it can affect an persons everyday life because to much technology can cause a persons eye sight
no , you will use it everyday of your life
yes
The diverse physical features of Latin America, such as mountains, rainforests, and deserts, can impact everyday life in various ways. They influence the availability of natural resources, access to transportation, and susceptibility to natural disasters like earthquakes and hurricanes. These physical features also play a role in shaping economic activities, cultural practices, and settlement patterns in the region.
To me, the three forces affecting my everyday life are; Human, Environmental and Biological.
Averages are used in everyday life when you are doing your shopping and you need to find out the average price of an item. That way, you will be able to know which shops might do that item for a cheaper price.
because
It can make a person discriminated and harmed.