Understanding Business, 10th Edition

Published by McGraw-Hill Education
ISBN 10: 007352459X
ISBN 13: 978-0-07352-459-7

Chapter 2 - Understanding Economics and How It Affects Business - Developing Workplace Skills - Page 55: 2

Answer

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Crude oil is a complex market with many factors impacting its future. Beyond the fear of a diminishing supply of oil, the market could be impacted by the electric cars being introduced, for these would not use oil and would thus decrease demand. With this being said, more people have access to cars than ever, allowing the oil market to expand.
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