Gas

Everyone hates that time of the week. When the car runs out of gas and need to go fill up more. Everyone dreads the prices of the gas because no one every knows what its going to be. The New York times article Gas, Still Not as Cheap as It Used to Be demonstrates how supply and demand controls how much you but gas. Supply is how much of a product there is and demand is how much the consumers want the product. For example, if a determinant for supply, like technology and resources, increase then the easier it is to get oil. This causes a decrease in the price of oil. Another example is that if there is an oil spill, then there is limited supply and the prices go up. This allows the seller to increase the prices to as much the consumers would buy.