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/ |