Predict global oil prices by using the supply and demand model! This game is based around real historical events that influenced the world petroleum market. Players navigate through a timeline and must decide how each of these events affect the price of petroleum by putting to use their economic theory with the supply and demand model.
The objective of the app is to provide an introduction to the basic tools of supply and demand, and to observe and predict how they operate in a real market that is constantly grabbing headlines: the global petroleum market. The analysis is based around those events that have affected the price of oil from the year 1970 to today.
The game features 18 events/turns and points are awarded for correct answers. After each event, expert advice will walk the player through the effects of the event and detail why the price moved in the way that it did. The game finishes with a final feedback that can be shared with friends through social networks.
Not only fun, but also a great way to put the supply and demand theory to the test! Current players highlight the following points:
- Interactive, engaging and fun.
- A great way to bring the subject to life.
- Applying the concepts of the supply and demand shifts to oil prices based on critical events was very helpful.
- Interesting tool to recall the basics of economics.