Part of the syllabus: Microeconomics
Source: The Wall Street Journal
Date of the article: 2015-08-26
Link to article: Oil Prices Fall on Less Gas Demand
An interesting issue to discuss for your IB Economics Internal Assessment.
Possible talking points:
- Supply and Demand diagram showing falling consumption of gasoline and/or other fuels, also growing supply. While explaining the shifts it could be a good idea to quote the article. Also, if this article is used – it is possible to use the exact figures on your diagram.
- For evaluation, think about the elasticities of demand and supply. What influences the elasticities for these products the most?
- How will the slowing down of China’s growth affect the future demand and price for oil?
