"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 …
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showed last 75 words of 731 total
…gasoline for, the time has come to learn to be more conservative. When faced with the increasing demands of gasoline individuals need to utilize car-pooling, taking the bus, or riding a bike. This will allow for a solution to the increasing question will there be enough crude oil and gasoline for our future. References: Chevron Corporation. (2005). Retrieved March 29, 2006 from www.chevron.com/news/current_issues/price_supply.asp. Colander, D.C. (2004). Economics and Economic Reasoning.