Search results for oil price

October 10, 2022

What is Demand Destruction?

Demand destruction is the term used in economics to describe a long-term drop in the demand for a particular good as a result of persistently high pricing or a constrained supply. Consumers may conc...

November 18, 2019

Definition of Commodity

A commodity is any good that is identical (or very similar) from any producer, i.e. producers have to compete on price. They are usually used in production of other goods or services.The most common t...