Chapter 10R, Problem 2CTQ

To determine

The side which is most likely to be right from fossil-fuel alternatives that increase energy prices due to fall in fossil-fuel supplies and investments in alternative fuels that improve the way of Americans live.

Explanation of Solution

No doubt, a decrease in fossil fuels increases the prices of energy sources which is responsible to increase transportation costs but investment in alternative fuels helps to improve the living standards and way of life of Americans. Some alternative fuels in a community bring a lot for people to make their lives better such as biodiesel and electricity replace fuels.

Biodiesel is an energy source that is quite helpful to replace diesel and provides safety benefits along with positive economic impact. It reduces transportation expenses which is economically helpful for the people of America and it also improves the air quality which is healthy for the community and assists better environment. And, electricity is also another alternative fuel that completely changes the way of living not only for Americans but the whole world. This alternative fuel is not only efficient for the environment but also has numerous benefits such as low cost, ease to use, and growth rapidly.

Therefore, investing in alternative fuels is better to improve the way of life which is reasonable and more efficient as compared to other fossil fuels.

Economics Concept Introduction

Introduction:

Fossil fuels can be called natural fuels that are found in the earth’s crust and made from animal and plant decomposition such as coal and natural gas. Alternative fuels are advanced fuels that are non-conventional such as biodiesel.