AP Economics Essay

Research Question:

How do the laws of supply and demand affect the price of oil in the United States?

Questions that should be also answered in your essay:

Analysis 1. Where does the oil that Americans and Europeans consume come from?

Determine which nations have a surplus of oil and identify which nations have a

shortage or a demand for oil.

Synthesis 2. How does OPEC use oil as a political and economic weapon?

Track the supply and demand for oil since 1945, what changes have you

observed?

Prediction/Evaluation 3. Are there any viable options for alternative sources of energy? Are European nations or the United States trying to create demand for alternative sources of energy? Cite with specific evidence.

Format:

2-3 pages

12 Font

Double space

5 in – text citations

Chicago style

DUE DATE: October 26th 11:59 PM

Benchmarks:

Each night you are required to conduct research in order to complete a graphic organizer. The graphic organizer serves of data collection and pre-writing. On Wednesday and Friday, you will learn about the supply and demand for oil, global consumption, producers, and how supply and demand shifters may raise or lower the price of oil.

Cognitive Levels:

Analysis, Synthesis, and Evaluation