Contemporary Issues in Economics Research Paper

Contemporary Issues in Economics - Research Paper Example Therefore, this paper will seek to explicate some of the main factors that determine the gas prices, problems, causes and solutions. First and foremost, it is important to note that the supply and demand market place determines the worth of fuel. This is because an increase in demand and a decline in supply will automatically lead to a rise in price. On the contrary, if the demand goes down or there is an upsurge supply, then the fuel price will automatically decrease. In case a retailer decides to market its gas at a high price without considering the pricing of the competitors, then consumers will go and buy gas from the competitor selling at lower prices. When this happens, the retailer will lose business due to the high pricing and this will compel him to lower his gas prices in order to be competitive and maintain his customers (â€Å"What Affects Fuel Pricing†). Retailer competition also affects gas prices and this can be grasped by the differences in price on stretches of highways that have multiple gas retailers. When there are several choices that consumers can choose from; then it boils down to more competition on the retailers’. In as much as many retailers carry gas and oil from major oil corporations, they are independent merchants of the product. This implies that they have the freedom to set the prices the way they so wish. Chevron Corporation asserts that, crude oil is merchandized on the global market just like agricultural products such as corn and wheat, and precious metals such as silver and gold. In recent times, the prices of crude oil have increased dramatically as a result of the rising world demand and political instability in most of the oil producing countries (â€Å"What Affects Fuel Pricing†). Crude oil is the most important raw material used in gasoline and other petroleum products production. Therefore, it plays an integral in determining the price of gasoline. Crude oil price may be up to half the cost of one

What could help solve poverty in Calcutta Essay

What could help solve poverty in Calcutta - Essay Example A few of the numerous people who come from different backgrounds and they are present in Calcutta include; Christians, Muslims, Hindus, Buddhists, Sikhs and Jains. There are numerous languages that are spoken in Calcutta includes but not limited to; Tamil, Urdu, Punjabi and Bengali. One of the biggest issue that Calcutta is facing is overcrowding. The main reason for this is the numerous activities that take place in Calcutta. In addition, there diversity of the people that are present in Calcutta is one of the reason that it has a high population density of 4.5 million people. Another reason for the over population of Calcutta is the Bangladesh conflict which took place in the 1970s which made refugees to settle in the northern and southern suburbs of the city. People move to Calcutta to take, coal, petroleum, manganese, jute, manganese and iron. This is because it is a major export centre of these products. Due to the large population, Calcutta has been having a big unemployment crisis since early 1950s. With the high population density and the equally high levels of poverty, Calcutta has a huge problem when it comes to housing (Banerji, 2007). It is estimated that more than a third of the city lives in places of severe poverty (slumdogs, 2015). In this place, the houses have poor ventilation, very limited sanitary conditions and very little open space. One of the main reason for the poverty is Calcutta is overcrowding. It is brought about when people are numerous and located in just one place (Phelan, 2015). This limits even the ability of the people to get ample space to live. There are numerous reason as to why people may be over populated in one place. As for Calcutta, the main reason for its overpopulation is the fact that numerous activities take place there (Weaver, 1985). The main industries that thrive in Calcutta include; transport industry, export industry, and manufacturing industries. In addition,