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Why do oil prices fluctuate?
In each box
a) suggest 2 reasons for each change
b) draw a demand and supply diagram to illustrate the effect the change will have
on the price and quantity sold of oil
An increase in demand for oil
A decrease in demand for oil
1.
1.
2.
2.
An increase in supply of oil
A decrease in supply of oil
1.
1.
2.
2.

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