Question

How decarbonisation will affect the demand for and price of oil, cobalt, nickel and lithium (noting that cobalt, nickel and lithium are three metals used in vehicle batteries to charge electric vehicles)

Answer 1

The overview of the explanation provided has been provided in the following section.

Step-by-step explanation:

• This could reduce the purchasing power of so many of these manufactured goods to improve, and indeed such proportion of that will therefore increase.
• These would adjust the supply curve for petroleum products, reducing revenue although with a smaller percentage of optimum.
• Autonomously, the aggregate income elasticity among all goods would significantly raise.