Gas Prices and Their Effect on the Economy at the Jersey Shore

1956 Words8 Pages
Gas Prices and their effect on the Economy at the Jersey Shore 1 Gas Prices and their effect on the Economy at the Jersey Shore Introduction: Gas prices have been showing an increasing trend for the last few years. This increase has largely affected all the sectors of the economy. The segments of the society which have taken the biggest negative impact of increasing gas prices are the households and businesses (Davidson). This paper focuses on discussing the most significant impacts of gas prices on the economy at the Jersey Shore in the light of recent trends and research studies. The Jersey Shore constitutes the Atlantic Coast of the New Jersey State and its adjacent residential societies. It is one of the most favorite locations for the citizens of New York and Pennsylvania to spend their vacations outside their home states. The costs of living and doing business, the level of unemployment, and the rate of inflation in Jersey Shore are comparatively lower than the U.S average which make the business growth opportunities more attractive than those in various other states of the country (Baum). But if the impacts of gas prices are observed, the economy at Jersey Shore is affected the same way as other States and cities in the United States. The following section is dedicated to explain these impacts of gas prices in detail: Major Causes for an increase in the Gas prices: The gas and oil prices impact all the sectors of the economy; including transportation and
Get Access