Answer To: show your understanding of the principles of supply and demand by looking at the oil market today....
Shefali answered on Jan 15 2021
Running Head; BUSINESS COMMUNICATIONS 1
BUSINESS COMMUNICATIONS 3
BUSINESS COMMUNICATIONS
Oil market has been affected by the pandemic very badly. People prefer to stay at home because of this outbreak, leading to less oil consumption. The gas price fluctuates because of the seasonal changes in demand. When the demand of gas increases, the price of gas also tends to increase (Wang & Sun, 2017). It is also linked with price of oil. When the price of oil increases, the price of gas also increases. They both move in the same direction. In 2020, the prices of gas have been on a roller coaster ride.
Once people start...