-The Above Figure Shows the Market for Gasoline

question 464

Multiple Choice

-The above figure shows the market for gasoline. When a hurricane destroys a major refinery that refines oil into gasoline, the

• A) demand curve for gasoline shifts from D₁ to D₂ and the supply curve of gasoline does not shift.
• B) demand curve for gasoline shifts from D₁ to D₂ and the supply curve of gasoline shifts from S₂ to S₁.
• C) demand curve for gasoline does not shift, and the supply curve of gasoline shifts from S₂ to S₁.
• D) demand curve for gasoline does not shift, and the supply curve of gasoline shifts from S₁ to S₂.

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Definitions:

Environmental Assessment

A procedure undertaken to determine the effect on the physical environment of a particular undertaking or activity.

Environmental Audit

An evaluation designed to identify environmental compliance and management system implementation gaps, along with related corrective actions.

Derelict Lands

Lands that have been abandoned or neglected and are no longer productive or useful.

Environmental Audit

An assessment designed to evaluate an organization's compliance with environmental laws and regulations, and its impact on the environment.