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Recover your password. Get help. Sentinel Colorado. Parker woman accused in QAnon kidnapping plot pleads not guilty. Aurora police attempt to identify boy found in Southeast Crossing neighborhood…. Jobless claims at , as fraud and backlogs cloud data. Why would the government regulate the gas rices, if they regulate and if the money is to high the small single owner gas station gets no customers because of the price they will run out of business, people who need gas and the gas is the same at all places they are going to go to a more fancy gas station and get their gas there rather than going to a small gas station that has the same price.
Owners of a gas station should be able to regulate the price of the gas that they provide to their customers because it is their gas station, they pay to keep that gas station and they have rights to be owning that gas station, so I believe that they should be able to set their own gas prices. If the government puts a set price on gasoline it will rapidly decrease our gas supply if it is too low or if it's too high it'll make it to where no one can afford gas.
In addition it will decrease benefits to consumers caused by competition between gas companies. The free market economy allows for the consumers to influence the price which could help us in many ways. The price should very from every place because every place is different and has its own needs. Also, if the government regulates gas prices it would defeat the purpose of a free market economy.
Whenever resources are scarce, demand exceeds supply and prices are driven up. The effect of such a price rise is to discourage demand and conserve resources. This can be seen in the market for oil. As oil slowly runs out, its price will rise helping keep the economy stable but if the government keeps it the same we will run out quicker and who knows what would happen then.
This is shown like when a market starts with a stable equilibrium, where demand equals supply. A supply shock reduces supply at each and every price, the price is now forced up to a new price then demand and supply are brought into equilibrium through a contraction of demand.
Some might say that more people would be able to afford it if the government regulates the prices but the government would just make the prices higher to try to conserve gas which would stop lower income families from being able to afford gas. But as stated above since we are a free market economy the price depends on the place. Higher pricing almost always leads to lower demand.
Modern capitalist society is based on this rule in addition to many other rules of economics. Petrol, oil, and gas products are not similar to food, water, and medical care: there are substitutes. The current market for gas can migrate to other areas such as many renewable sources or public transportation. The government stepping in, in this case, would lead to a drawn-out withdrawal from gas into renewable energy when the opposite should be encouraged.
Fuel should not be regulated because there would be no point of going to different gas stations and they would all have the sames prices. Do you mean longitude??? Brenmore Lv 5. What do you think of the answers? You can sign in to give your opinion on the answer.7 The mean of the ratio of minimum wage to average wage for full-time workers in Eastern Europe is in and increases to in The corresponding W estern European values are in.