Explanations
High Gas Prices - Effects on Businesses and the UK Economy
Geoff Riley
17th March 2023
In this video we look at how high gas prices can impact businesses and also affect some of the key UK macroeconomic objectives. We also work through how to show this using an AS-AD diagram in case this issue comes up as an exam question!
- Economics
- Blog
- Explanations
- Oil and gas
- Supply shocks (aggregate supply)
- UK Economy
- Stagflation
- Wage Price Spiral
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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