Unit 3 & 4: Oil prices continue to fall.

Once again I am out on a school trip (sorry), so we will put on hold the work on Oligopoly and do something constructive and relevant for Unit 4.

Oil prices are likely to continue falling well into 2015, the International Energy Agency has said. 

Click here to read the article and answer the following questions:




Unit 3 - Why are oil prices falling? (8 marks)

(this could be linked to Unit 3 - supply/demand/cartel issues)

Unit 4 ; Assess the economics effect on both a developed and a developing country of the predicted fall in oil prices. (30 marks)