Coal is in great demand because it is a cheap and abundant source of energy, particularly in countries with high electricity needs. It is also used in industries such as steel production and cement manufacturing. Despite growing concerns about its environmental impact, coal continues to be a key contributor to global energy supply.
how has demand for coal changed since 1950 the demand for coal has changed drastically scince the 1950's (quite obvious). this is a result of the relisation of the global problems it has had on the environment. the use of coal has also been replaced by more modern forms of energy resoures, such as electricity and gas. during the 1950s coal was used to heat homes, cook food, and even run traind. in modern society scince then we no longer require such a high demand for coal as we do not use it as much to do everyday requirements such as these.
Coal may need to be imported if a country does not have sufficient domestic coal production to meet its energy needs. Factors such as high demand, lack of suitable coal reserves, or inaccessibility of coal resources could contribute to the need for importing coal. Additionally, some countries may import coal to supplement their energy sources and ensure energy security.
The price of a pound of coal can vary depending on factors such as location, quality, and market demand. On average, it can range from $0.05 to $0.10 per pound.
It is estimated that there is enough coal to last for about 150 years at current consumption rates. However, this number can vary depending on changes in demand and advances in technology for coal extraction.
In general, coal is considered to be an inexpensive source of energy when compared to other fuel sources like natural gas or renewables. However, the cost of coal can vary depending on factors such as location, transportation costs, market demand, and regulatory requirements.
The rising demand for coal came from many sources
The surge in demand from electrical utilities, which comprised over 50 percent of coal industry sales, led to two of the most dynamic decades in U.S. coal history in the 1960s and 1970s.
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how has demand for coal changed since 1950 the demand for coal has changed drastically scince the 1950's (quite obvious). this is a result of the relisation of the global problems it has had on the environment. the use of coal has also been replaced by more modern forms of energy resoures, such as electricity and gas. during the 1950s coal was used to heat homes, cook food, and even run traind. in modern society scince then we no longer require such a high demand for coal as we do not use it as much to do everyday requirements such as these.
The price of coal varies depending on the level of customer demand. Additionally, the size of the lump of coal will make the price vary.
The demand for coal has changed since 1950 from 200 million to 60 million. This is because the main users are using coal fired power stations. 200 million in what units? Lumps, pounds, hundredweights, ton(ne)s?
Coal was being used to fuel industrial plants, to make steel, and to power the railroads.
There are 2 different types price elasticity of demand and price elasticity of supply. If you meant to ask is demand for coal price elastic on inelastic, answer is yes, it is price inelastic. The demand for coal, is unlikely to drop much even if the price of it increases, it can be said that it is a 'necessity'. Since the quantity demanded decreases less than proportionate than the increase in price, it is said to be price inelastic.
In my opinion stable demand commodities are those which are necessary in life such as oil, gas, corn, rice, coal, steel
Coal and North Sea Oil/ iron and coal
No, coal mining will not last forever as it is a finite resource. As we continue to extract and consume coal, reserves will eventually deplete. Additionally, the shift towards renewable energy sources is reducing the demand for coal.
The coal-producing states that border the Great Lakes are Pennsylvania, Ohio, and Indiana. These states have significant coal mining operations, contributing to the energy production in the region. While Michigan and Wisconsin are Great Lakes states, they are not major coal producers.