Wednesday, April 28, 2010

Two words of the day are demands and supply

Demands is how people decide to buy what they are willing and able to buy.This also depends on money because if they don't have right amount they can only buy their needs.

Supply is how much the producers are going to sell their product and also at what price.Producers must know the sweet spot on the price of the product if they want their products to be sold.

After taking a quiz on oil I noticed that i know nothing about oil and how the world depends on it. I had a very low score which makes me seem like if i don't really care about it and i bet there's more people out there that don't know about it, like what country consumes the most oil? What are they doing to solve this problem? Oil is very important and we have to know more about it.

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