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If the price of oil increased by 1000% least likely to happen?

1 Answer

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Answer:

he least likely scenario is that the price of oil would increase by 1000% and there would be no change in the demand for oil, and no effect on the global economy.

Step-by-step explanation:

If the price of oil increased by 1000%, it is least likely that the demand for oil would remain unchanged. Such a large increase in price would likely cause a decrease in demand as consumers and businesses look for alternative sources of energy or ways to conserve fuel.

It is also unlikely that there would be no effect on the global economy. A sudden and significant increase in the price of oil could have widespread economic impacts, including increased costs for transportation and production of goods, which could lead to inflation and slower economic growth.

Therefore, the least likely scenario is that the price of oil would increase by 1000% and there would be no change in the demand for oil, and no effect on the global economy.

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User Zanael
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