Do increasing energy prices make you shiver? Find out why energy prices increased and what to do about it. Likely your electricity bill, prices at the gas station and the costs of heating your home increased significantly. This is related to the crude oil market and the COVID-19 pandemic. But how exactly? Find out in this episode.
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Economic concepts: demand and supply, elasticity of demand, production factors, goods prices, OPEC, necessities, demand shock, inelastic demand