Fall 2007

Why Do Gasoline Prices React to Things That Have Not Happened?

Gasoline prices sometimes go up to reflect increased future costs. Customers get upset and cry, "Price gouging!" Really, it's just good business. Prices automatically speed up or slow down the commodity flow in order to maximize performance, or what economists call allocative efficiency. (Read more.)

Q&A

What is a commodity?
What are spot and futures markets?
What are the benchmark crude oils?

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Economic Snapshot

Nominal vs. Real Oil Prices (Read more.)

Bulletin Board

New! Great Depression Curriculum
Resource Guide Plus
Fed Challange and Hot Topics in the News Essay Contests
Economic Summit for Secondary Teachers

(Read more.)