What Is a Demand Shock?

A demand shock is a sudden change in the demand for a good or service. This can lead to a decrease in production and an increase in prices. A demand shock can be caused by a number of factors, including a change in consumer tastes, a change in government policy, or a natural disaster. Can … Read more

How Does a Vertical Well Works?

A vertical well is a type of oil well that is drilled straight down into the ground. The oil is then extracted from the rock formations that it is found in. Vertical wells are the most common type of oil well. What are the parts of an oil well? An oil well typically consists of … Read more

Categories Oil

Interest on late payment

Interest on late payment is what is applied as a penalty when the debtor fails to comply with payment obligations. The amount of late payment interest must always appear in the contract in which the conditions of the loan or credit with the booth. We can demand the late payment interest on unpaid bills When … Read more