Topic: Business economics
a) Identify the nature of resource cost structure and the practical significance of different costs;
b) Explain the factors influencing optimum size and the significance of demand and supply relationships;
c) Demonstrate an understanding of the relevance and limitations of
economic theory to management decisions.
The question needed to answer for this assignment is:
You should answer the question in report form with introduction, main body and conclusion.
Global oil prices have fallen sharply over the past year, leading to significant revenue shortfalls in many energy exporting nations, while consumers in many importing countries are likely to have to pay less to heat their homes or drive their cars.
Question: How oil prices affect the AD or AS of an economy?
one of the below:
1) The petrol exporting nations