How does this relate to the theories from the chapter?\
the inflation rates of products are what really get in the way but if there are shortages the way its going to work is everything will be pretty pricy for the people that can afford it the only thing is that its sad because they produce a lot of oil and out of that they dont get much.
Now consider a different case. After Hurricane Katrina speculators brought in bottled water, but charged quite a lot for it. What might have happened had price controls been imposed? Where does the concept of fairness fit into this theory?
Normally I guess this is the way the world works I really don’t thinks its fair because everyone should have the right to the resources but its hard to do when there’s no money to buy the resources, and maybe if someone had given money people would be able to have the resources.
How is are the two disaster situations different? Will supply and demand be affected in the same way? Why or why not? What information is conveyed by the price in both situations? Is it accurate? How do prices tell people to behave?
They are different because one had more poblicity than the other so people offered to help the people in need as for the situation in Venzuela people dont really know what is going on leaving hem to in a way be alone.
Macroeconomics 