Related Web Links – Module 5 - Supply and Demand: Introduction and Demand

Changes in consumer income influence demand. For example, an increase in income will shift out the demand curve for the typical good. The Bureau of Labor Statistics tracks wages, earnings, and benefits.

Go to: http://www.bls.gov/bls/wages.htm

Oil is a commodity where the price is set in the global market. As a result, the cost of producing a gallon or liter of gasoline is about the same throughout the world. However, gasoline prices have a tremendous range geographically primarily due to the local tax on gasoline.

Go to: http://money.cnn.com/pf/features/lists/global_gasprices/