"Economics is the study of how human beings coordinate their wants and desires, given the decision-making mechanisms, social customs, and political realities of the society" (Colander, 2004, p. 3-4). There are two problems that face any economy on a given supply this is how much should be produce and who it should be produced for. This paper will summarize an article from Chevron, and the supply and demand on gas and why prices increase.
Throughout the years, the cost of gasoline has fluctuated greatly. …
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