Gdb Eco401 Solution
I think Oligopoly or Cartel market structure domestic oil companies is
operating If domestic oil prices continue to rise in future then it will
be impact on cost of basic necessities of life in the country is that The cost
of food rises as well, partly because oil is used in many ways in growing and
transporting food and partly because of the competition from bio fuels for
land, sending land prices up. The cost of shipping goods of all types rises,
since oil is used in nearly all methods of transports. The cost of materials
that are made from oil, such as asphalt and chemical products, also rises If
the cost of oil rises, it tends to raise the cost of other fossil fuels. The
cost of natural gas extraction tends to rises, since oil is used in natural gas
drilling and in transporting water for frocking. Because of an over-supply of
natural gas in the country, its sales price is temporarily less than the cost of production. This is not a sustainable
situation. Higher oil costs also tend to raise the cost of transporting coal to
the destination where it is used.
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