Question

In: Economics

how does the raise of gas and food affect families and others

how does the raise of gas and food affect families and others

Solutions

Expert Solution

Few years back, gas prices were friendly for the consumers and in many ways they were enjoying their life. People have purchased luxurious cars and traveled long distances. But it could not last long, rising prices have changed their life. There is high demand for gas but the production does not follow to that degree. As gas prices continue to rise, people all over the world forced to change their way of life, they drive less, purchase fuel-efficient cars and use public transport wherever possible.


The increase in food prices have already impacting families and others and are not likely to improve in the near future. The price of every food products have increased to its maximum level and affecting adversely every groups of people. There is high levels of unemployment, people are facing difficulties to arrange two meals for their families and these high prices are putting extra burden on them.


Food prices are creating dire situations in poorer countries as many of their citizens spend more than half of their income on basic food products. Increase in food prices can have a devastating effect on the people of these countries.


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