Oil Is Being Discovered at a Much Faster Pace Than

question 36

True/False

Oil is being discovered at a much faster pace than it is being consumed.

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Definitions:

Elastic

A characteristic of a good or service that describes its responsiveness to changes in price; highly sensitive to price changes.

Rents

Payments made to the owner of a property (such as land, buildings, or apartments) for the use of that property.

Sub-prime Lending

The practice of making loans to borrowers who are considered to be at higher risk of default, typically due to having a poor credit history.

Payday Lenders

Financial institutions that provide high-interest, short-term loans to individuals typically due on the borrower's next payday.