as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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give an example of a consumer good that is subject to the laws of supply and demand
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a consumer good that is subject to the laws of supply and demand is gasoline. the amount of gasoline available for consumer consumption is determined by the supply, which is determined by the amount of oil in reservoirs, refining capabilities, and transportation infrastructure. on the demand side, the number of people driving cars, demand for gasoline for other uses, and the price of other transportation options determine how much gas is consumed.
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