• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Practice coursework

Extracts from this document...


Economic Practice Coursework My choice of article is the one relating to the oil crisis in Libya, and how it affects the economy of other countries. The article discusses the impacts of the oil cut of Libya, supplying it no more. It starts off by talking about the impact on shares and the price of oil barrels, which is the fastest and direct impact of the oil cut. As supply from Libya territory stops, supply to the entire world is crippled, as Libya is one of the countries that supply most worldwide used oil. As it stops supplying, it shifts the supply and demand graphs completely. ...read more.


On the long term, the demand for the cars will decrease, as people will not want to buy cars, and try to sell their cars. This will affect the economy drastically, as the car companies are a big part of that countries' economy. The general public will search for alternative routes to travel, as oil prices are higher. The car companies will have to spend much more money on researching alternatives such as hybrids and electric cars which are starting to appear. The public transport system will benefit from this situation, as more people would want to travel via train or bus, as it is much cheaper and faster. ...read more.


The unrest in Libya may affect the Saudi Arabia, and that concern is affecting a huge majority of stock holders and companies, specified before, changing the stock markets, especially the European and Asia. Relating to airlines, as the supply and demand graphs change, the oil supply for airplanes gets crippled, so more money has to be spent to get the same amount of oil, making the costs bigger, resulting in a bigger price for the customer for the same flight compared to before the whole situation. There is also a chance of investors backing out from the airline business, resulting in smaller profits for the companies and much more monetary issues. ?? ?? ?? ?? Afonso Sim�es 12 CLC ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our International Baccalaureate Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related International Baccalaureate Economics essays

  1. Economics Higher Level Coursework

    Novartis will also make a tender offer to buy the rest of Eon Labs shares, which are listed in the US, for $31 per share at a cost of about $1bn (pounds 526m). It will merge the companies into its Sandoz unit, which will then command sales of more than $5bn (pounds 2.6bn).

  2. Economics Coursework - Demand&Supply

    David Cameron told the Guardian in January that the Tories were looking at the idea but he was yet to be convinced. In the meantime, demand for cars has crashed across the world, throwing the global industry into its biggest crisis and forcing American giants General Motors and Chrysler to the brink of bankruptcy.

  1. Human Research Management - Southwest Airlines

    However, cooperation between employees and management was substantially facilitated thanks to motivating corporate organizational culture. Of pivotal importance was Kelleher's success in persuading the unions to give up narrow job classifications and restrictive work rules (which often impede workers productivity)

  2. Economics Higher Level Coursework

    This hurts the GDP of major rubber producing countries which rely on rubber exporting, and also employment of rubber farmers. Rubber world market 1995- 2001 (US�) Prubber S1995 S2001 155� TR when S� Original TR 25� D2001, YEd < 1 D1995 q1995 q2001 Qrubber (kg)

  1. Economics Higher Level Coursework

    goods are exported or reserved for urban use, then this will seriously affect the quality of life in rural areas. Secondly, both capital and labor tend to flee to urban areas due to pull factors. The rate of return for both investing and employment in the city areas are (sometimes falsely)

  2. 15 Historical Economic Questions on Mercatilism and the Development of European Countries.

    France was placed in economic ruin as a result of these advancements and was constrained from properly administering to its colonies and developing their navy. This naturally gave Great Britain a leg up in the race for world domination. What explains the rise of the UK?

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work