Lesson 2: A Case Study

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Recommended: Impact of oil on the economy

Haliegh Small March 31, 2015 Lesson 4.02 The government should not mandate gas prices in my opinion it will cause a lot more problems than it will be doing good. If the price is set to high, than less people will be able to afford it, so the supply will increase and gas stations profit will decrease due to lack of gas being sold. This could cause some smaller gas stations to go out of business which would also cause more unemployment. More unemployment would be worse for the economy. Then if the price is set to low the demand would increase, lines at gas station would become extremely long and oil companies may not be able to keep up. So if the oil companies cannot keep up than the supply of gas could decrease dramatically which would cause

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