Economics - Headway

Standard 1 - People make informed economic choices by identifying their goals, interpreting and applying data, considering the short- and long-run costs and benefits of alternative choices and revising their goals based on their analysis.

Benchmark  -  9.2.1.1.1.

 

Go to this link to check out the market factors.  This site is updated frequently.

                     http://www.eia.gov/finance/markets/

Questions:

1.  What are the four main categories of the global oil market?  {Who's Who heading}.

2.  List four sources that affect the supply of global oil.

3.  Refer to the reports and presentations section on the page, what caused prices to drop around the year 2000? 

4.  Name three events in the last 12 years that caused oil prices to go higher.

5.  IN the Overview choose one of the seven factors charts and go over it.  What do the charts and graphs show might happen in the future?