Gas Pipeline Essay Example | Topics and Well Written Essays - 1000 words

Gas Pipeline - Essay Example The ability of suppliers to supply gas have been drastically reduced resulted in a shift in the supply curve to the left as can be seen on graph 2 below. This resulted in the equilibrium point moving left from E1 to a new point E2 on the graph on the intersection point of the supply and demand curves . Another fact that can be derived from the above graph is that a small shift in the supply of gas will result in a larger shift in price. The reason for this is that gas is not a luxury but a essential product for most people and businesses, and this is indicated on the graph by a much steeper demand curve than normal, meaning the demand curve for gas is less elastic. Even so a increase in price will result in a marginal decrease in demand as people restrict driving for essential reasons only, such as going to work to conserve gas. It would not have resulted in a shift of the demand curve as there was nothing really forcing a increase or decrease in the demand for gas, except the increase in price. Additionally the drop in gas supply and the resulting increase in price would also have effected many other market contributors. The distribution of products onto the market is done by a transport system, and a large part of this system is fueled by gas, such as trucks and delivery vans. The suppliers of these products would have paid more to be able to distribute their products to shops and malls, so the price of these commodities would have also gone up, negatively influencing their demand. The above can be seen as the behavior of a open market influenced by buyers and sellers naturally driving the market towards a equilibrium. When prices are above the equilibrium point and there is a surplus of goods, it will cause market prices to fall (Mankiw, Gregory, 2004). In the above case study we had a price below the equilibrium point as there was a decrease in supply, causing market prices to rise. Cited Page 1. Pump Price Graphs. ArizonaGasPrices.com. 2003 - 2006. Accessed 29 March 2006. www.ArizonaGasPrices.com/retail_price_chart.aspx 2. Arizona Gas Prices. Gas Price Comparisons. Accessed 29 March 2006 http://www.arizonagasprices.com/ 3. Mankiw, Gregory. Principles of Economics.

Internet is good for study Essay Example | Topics and Well Written Essays - 3000 words - 1

Internet is good for study - Essay Example Statistics has revealed that global use of the internet as of 2012 have profoundly increased and where China ranked as the number one country with the highest number of Internet users and followed by the United States (Top 20 Countries with the Highest Number of Internet Users). The popularity of the Internet could be attributed to different reasons, depending on the profile of the users. It has always been acknowledged that members of the current generation, especially adolescents and young adults use the Internet for diverse purposes other than fact finding or information gathering. The popularity of social networking sites has significantly increased Internet usage through sharing of experiences, photos, events, and recent updates on the lives of friends, relatives, and acquaintances. From the study conducted by the Lebo, the Internet was found to be used for the following general purposes: fact finding activities, visiting social networking sites, playing games, watching videos, paying bills, and even purchasing products online (Lebo). Fact finding activities could already be classified as a general category for studying. In this regard, the current discourse contends that the Internet is actually a good medium for enhancing academic performance or in studying for the reasons that information is easily accessible; more people from all walks of life have immediate access to this technological medium; and studying through the Internet could be undertaken across time and geographic locations. A discussion of the reasons why the Internet is deemed good for studying would initially be provided. To present a balanced discourse, the views of people who contend that the Internet actually poses threats to learning and academic development would also be expounded. Thus, the next section would present a discussion on why the Internet could be detrimental to academic endeavors. The final section would weigh the arguments asserting the