Demand of electric vehicles

Research and find an article that covers the supply and demand of electric vehicles and how gas prices have affected the supply or demand electric vehicle sales. You can use an article online or offline from any reputable source. Write up a review of the article and integrate concepts, such as the market, market equilibrium, law of demand, and prices control into your review. Summarize the article and discuss how it relates to other economic theories.

Complete this essay in a Microsoft Word document in APA format. A minimum of 1500 words for your essay is required with a least 2 references in addition to the article that is being reviewed.

Requirements: Minimum of 1,500 words

Answer preview

They are also environmentally friendly since they utilize little or no petrol or diesel (Nazaripouya et al., 2019). Russia’s invasion of Ukraine, coupled with the response by the United States government banning the import of Russian oil and gas, drove up gas prices. This made it very expensive for many Americans to operate their vehicles, prompting numerous people to look for viable alternatives (Wayland, 2022). The only option other than paying the high gas prices was to look for electric vehicles. This phenomenon drove up the demand for electric vehicles (Wayland, 2022). This paper will review an article analyzing the impact of rising gas prices on the demand and supply of EVs, integrating economic concepts such as the market, market equilibrium, law of demand, and prices control into the review.

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Demand of electric vehicles