Science Literacy Use the Following Graph to Answer the Next

question 4

Multiple Choice

Science Literacy Use the following graph to answer the next questions.
-How much more oil does North America produce than natural gas?

• A)13%
• B)6%
• C)19%
• D)7%

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Definitions:

Product Demand

The desire and willingness of consumers to purchase a specific quantity of a good or service at a given price.

Price Elasticity

An estimation of the change in demanded quantity of a product in response to its price movements, signifying how prone consumers are to price changes.

Percentage Change

A mathematical calculation that shows how much a quantity has increased or decreased in comparison to its previous value, expressed as a percentage.