The economy is influenced by many factors that determine its surplus or deficit.
Throughout the last several decades, we have seen the world’s dependency on oil and
gas. Also, oil and gas are among two of the most important resources in the globe. As the
demand for oil and gas grows, the American family spends an average of $200 to $300 in
gasoline every month. Oil and gas continue to be major contributors to the stability or instability,
of the larger economies, such as those of the United States, Germany, and Japan, and the
third-world nations as well. The high price of crude oil has seriously affected all aspects of the
american economy from basic transportation to the high cost of consumer goods; however,
finding a solution is no easy task when dealing with such a complex global
issues.
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I'm having a hard time trying to figure out why you're writing this paragraph and what you want to prove.
Following are my comments upon what you have written.
The economy is influenced by many factors that determine its surplus or deficit. << Surplus and deficit of what?
As the demand for oil and gas grows, the American family spends an average of $200 to $300 in gasoline every month. << What is your source for this statistic? Are you including heating oil? Please explain.
Oil and gas continue to be major contributors to the stability or instability, of the larger economies, such as those of the United States, Germany, and Japan, and the third-world nations as well. << Do you mean oil and gas PRICES? Have Bangladesh, Congo, Nepal, Albania, and other countries' economies been hurt by these high prices? Source?
however, finding a solution is no easy task when dealing with such a complex global issues. << Is this one issue or several ISSUES? Please explain what you mean by "complex global issues."
The given paragraph highlights the impact of oil and gas on the economy, particularly in terms of prices and stability. To address the issue and find a solution, it is important to understand the factors that influence the economy and the determinants of surplus or deficit. Here's an explanation of how to analyze and understand the influence of factors on the economy:
1. Identify the factors: The statement mentions oil and gas as significant resources that have a substantial impact on the economy. Other factors that can affect the economy include government policies, interest rates, inflation, employment levels, technological advancements, international trade, and consumer spending.
2. Analyze supply and demand: Factors such as the global demand for oil and gas can drive prices higher due to limited supply, geopolitical conflicts, or disruptions in production. Alternatively, a decrease in demand can lead to lower prices. Understanding supply and demand dynamics is crucial in assessing the influence of oil and gas on the economy.
3. Assess economic stability: The stability of an economy depends on various factors, including the availability and affordability of essential resources like oil and gas. High oil prices can increase transportation costs, leading to higher prices for consumer goods and potentially impacting inflation rates. Instability in one country's economy can also have ripple effects on the global economy.
4. Consider regional and global implications: The statement mentions that the influence of oil and gas on the economy extends beyond individual countries like the United States, Germany, Japan, and third-world nations. It is essential to consider how changes in oil and gas prices and availability impact global trade, international relations, and economic interdependencies.
5. Seek potential solutions: Addressing the complexities of global issues, such as the impact of oil and gas on the economy, requires comprehensive strategies. Governments, businesses, and individuals can explore various solutions, including diversifying energy sources, investing in renewable energy, promoting energy efficiency, and implementing policies to mitigate price volatility.
In conclusion, understanding the factors that influence an economy, such as the role of oil and gas, is essential to analyze surplus or deficit, assess economic stability, and seek potential solutions. This knowledge can help policymakers, businesses, and individuals make informed decisions in addressing these complex global issues.