1. What are the basic factors of production in the petroleum industry?
2. What do you think the factors of production might be in the future?
3. Explain how the concepts of the demand and supply of petroleum combine to determine market prices.
4. What are the economic indicators most directly affected by energy prices?
5. Should there be more government intervention in the exploration for and pricing of petroleum products (explain why you said yes or no)?
Thanks, this is for my class in Business
mister ed says
this is a homework question and so it would be very helpful if we knew if this was for a what course in petroleum engineering – econ – or marketing etc — because our answers would be geared to that major!!!!