139k views
2 votes
The cost of fuel is on the rise. In what way will this affect global trade?

1 Answer

5 votes
If the cost of fuel is on the rise, prices of other goods will also increase. This is because goods are transported using fueled vehicles. Increase in fuel will affect the overhead costs of other goods. The increase in overhead cost will be compensated by increasing the prices of the goods. People will decrease the quantity of goods purchased if the price is high. 
User Quentin Roger
by
7.4k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.