Which
Why Does Petrol Demand Persist? Unraveling the Intricacies of its Inherent Inelasticity in a Dynamic Energy Market
The global demand for petrol continues to ascend a steep trajectory despite oscillations in its price. This phenomenon is an explicit manifestation of what economists describe as ‘inelastic demand’ – a scenario where the percentage change in quantity demanded is less than the percentage change in price. This enigma, woven deeply within the fabric of […]