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The people who run the oil will make a little less profit. The economy as a whole will expand because products will get cheaper.
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What are Venezuela's main economic activities?
Venezuela's economy is highly dependent on oil exports. The recent fall in oil prices has damaged the economy there. prices can fluctuate so there is always a chance that their economy will improve if and when oil prices rise.
Which word best describe the economy of the oil-producing state after the sharp decline of oil prices in the 1980s?
butt cheeks
Which word best describes the economy of the oil-producing states after the sharp decline of oil prices in the 1980s?
butt cheeks
When oil and energy prices rise the economy tends to experience what type of inflation?
natural inflation
Which factor was a major cause of the stagnant economy in the US during the early 1970s?
Is it about the oil prices.
How is oil important to Venezuela econonmy?
Venezuela's oil-based economy illustrates the affects of overspecialization. When oil prices are high, its economy is strong. When oil prices drop, its economy weakens.
The economy of suffers when oil pricee drop?
The people who run the oil will make a little less profit. The economy as a whole will expand because products will get cheaper.
Why the oil prices always increasing in India?
economy
What are Venezuela's main economic activities?
Venezuela's economy is highly dependent on oil exports. The recent fall in oil prices has damaged the economy there. prices can fluctuate so there is always a chance that their economy will improve if and when oil prices rise.
How did Iraq war effect the global economy?
oil prices rised
Why is oil importent to Nigeria?
Oil is important to Nigeria's economy because it is 90% of Nigeria's income. The money made from selling oil to other countries helps to build highways, schools and factories. Falling oil prices around the world caused Nigeria's income to drop. Also, years of low rainfall caused food production rate to drop.
Why was a severe downturn in oil prices during the earlys detrimental to the soviet economy?
It was an oil-exporting nation
Why was oil so important to nigeria in the 1950's?
Oil is important to Nigeria's economy because it is 90% of Nigeria's income. The money made from selling oil to other countries helps to build highways, schools and factories. Falling oil prices around the world caused Nigeria's income to drop. Also, years of low rainfall caused food production rate to drop.
Why was a severe downturn in oil prices during the early '80s detrimental to the Soviet economy?
It was an oil-exporting nation
The drop in oil prices in the 1980s probally help conviced Mexico to?
Diversify its exports
Which word best describe the economy of the oil-producing state after the sharp decline of oil prices in the 1980s?
butt cheeks
Which word best describes the economy of the oil-producing states after the sharp decline of oil prices in the 1980s?
butt cheeks
