Student t Distribution Table

This table below is a compilation of data from the Student t distribution. Anytime that a t-distribution is being used, a table such as this one can be consulted to perform calculations. This distribution is similar to the standard normal distribution, or bell curve, however the table is arranged differently than the table for the bell curve. The table below provides critical t-values for a particular area of one tail (listed along the top of the table) and degrees of freedom (listed along the side of the table). Degrees of freedom range from 1 to 30, with the bottom row of Large referring to several thousand degrees of freedom. Example of Using the Table A brief example will illustrate the use of the table below.   Suppose that we have a simple random sample of size 11.   This means that we will consult the row with 11 - 1 10 degrees of freedom.   Along the top of the table we have various levels of significance.   Suppose that we have a level of significance of 1%.   This corresponds to 0.01.   This column in the row with 10 degrees of freedom gives us a critical value of 2.76377. This means that in order to reject the null hypothesis, we need a t-statistic that exceeds this value of 2.76377.   Otherwise we will fail to reject the null hypothesis. Table of Critical Values for t Distribution t 0.40 0.25 0.10 0.05 0.025 0.01 0.005 0.0005 1 0.324920 1.000000 3.077684 6.313752 12.70620 31.82052 63.65674 636.6192 2 0.288675 0.816497 1.885618 2.919986 4.30265 6.96456 9.92484 31.5991 3 0.276671 0.764892 1.637744 2.353363 3.18245 4.54070 5.84091 12.9240 4 0.270722 0.740697 1.533206 2.131847 2.77645 3.74695 4.60409 8.6103 5 0.267181 0.726687 1.475884 2.015048 2.57058 3.36493 4.03214 6.8688 6 0.264835 0.717558 1.439756 1.943180 2.44691 3.14267 3.70743 5.9588 7 0.263167 0.711142 1.414924 1.894579 2.36462 2.99795 3.49948 5.4079 8 0.261921 0.706387 1.396815 1.859548 2.30600 2.89646 3.35539 5.0413 9 0.260955 0.702722 1.383029 1.833113 2.26216 2.82144 3.24984 4.7809 10 0.260185 0.699812 1.372184 1.812461 2.22814 2.76377 3.16927 4.5869 11 0.259556 0.697445 1.363430 1.795885 2.20099 2.71808 3.10581 4.4370 12 0.259033 0.695483 1.356217 1.782288 2.17881 2.68100 3.05454 4.3178 13 0.258591 0.693829 1.350171 1.770933 2.16037 2.65031 3.01228 4.2208 14 0.258213 0.692417 1.345030 1.761310 2.14479 2.62449 2.97684 4.1405 15 0.257885 0.691197 1.340606 1.753050 2.13145 2.60248 2.94671 4.0728 16 0.257599 0.690132 1.336757 1.745884 2.11991 2.58349 2.92078 4.0150 17 0.257347 0.689195 1.333379 1.739607 2.10982 2.56693 2.89823 3.9651 18 0.257123 0.688364 1.330391 1.734064 2.10092 2.55238 2.87844 3.9216 19 0.256923 0.687621 1.327728 1.729133 2.09302 2.53948 2.86093 3.8834 20 0.256743 0.686954 1.325341 1.724718 2.08596 2.52798 2.84534 3.8495 21 0.256580 0.686352 1.323188 1.720743 2.07961 2.51765 2.83136 3.8193 22 0.256432 0.685805 1.321237 1.717144 2.07387 2.50832 2.81876 3.7921 23 0.256297 0.685306 1.319460 1.713872 2.06866 2.49987 2.80734 3.7676 24 0.256173 0.684850 1.317836 1.710882 2.06390 2.49216 2.79694 3.7454 25 0.256060 0.684430 1.316345 1.708141 2.05954 2.48511 2.78744 3.7251 26 0.255955 0.684043 1.314972 1.705618 2.05553 2.47863 2.77871 3.7066 27 0.255858 0.683685 1.313703 1.703288 2.05183 2.47266 2.77068 3.6896 28 0.255768 0.683353 1.312527 1.701131 2.04841 2.46714 2.76326 3.6739 29 0.255684 0.683044 1.311434 1.699127 2.04523 2.46202 2.75639 3.6594 30 0.255605 0.682756 1.310415 1.697261 2.04227 2.45726 2.75000 3.6460 Large 0.253347 0.674490 1.281552 1.644854 1.95996 2.32635 2.57583 3.2905

Islamic Freedom Of Choice Under The Islamic Charter

Islamic feminism can be defined as women who advocate for their rights, gender equality, and social norms under the framework of Islam. Rooted in Islam, the movement’s pioneers have also utilized secular, Western, or otherwise non-Muslim feminist discourses. Advocates in the movement seek to highlight the deeply rooted teachings of equality in religion and encourage a questioning of the patriarchal interpretation of Islamic teaching through the Qur an, hadith and sharia towards the creation of a more equal and just society. Non-Muslim countries, primarily the West, perceive Muslim women as victims of Islamic traditions. The paradoxical clash in culture shapes the discourse between Islamic and Western feminists. For Muslim women, liberation lies in the freedom of choice under the Islamic charter. The controversy over the way women in Islam dress has become politicized; their Hijab has become the ultimate symbol of oppression for the West, however, for Islamic feminists, their h eadscarf is a resistance against Western colonialism. The struggle between European colonialism and Muslims is apparent in issues of the 20th and 21st century. Colonialism has altered the political atmosphere in the Muslim world; colonizers have appointed leaders in Muslim countries, changed legal and economic institutions and has caused the Muslim believers to challenge their faith. Colonists essentially see Christianity of utter more importance than Islam. However, what colonists do not acknowledgeShow MoreRelatedEssay on Cricket World Cup4183 Words   |  17 PagesCharter of the Organisation of the Islamic Conference 1 Charter of the Organisation of the Islamic Conference †«Ã˜ §Ã¢â‚¬ ¬ †«Ã˜ § Ø §Ã¢â‚¬ ¬ In the name of Allah, the most Compassionate, the most Merciful We the Member States of the Organisation of the Islamic Conference, determined: to acknowledge the Conference of Kings, Heads of State and Government of the Member States convened in Rabat from 9 to 12 Rajab, 1389 H, corresponding to 22 to 25 September 1969, as well as the Conference of ForeignRead MoreFreedom Of Religion And A Fair Trial Essay2179 Words   |  9 PagesIn the present case, the main issue is freedom of religion and how freedom of religion fits in relation to other rights guaranteed to Canadians. Current political tensions in Canada and conflicts in the Middle East put in doubt whether all religious groups can coexist under current legislation and legal practices. This paper will primarily present and discuss conflicts between: Islam and secularism, and the right to ones religion and a fair trial. Despite my unfavorable views of some sectarian beliefsRead MoreCanadian Multiculturalism Act And The Canadian Charter Of Rights1463 Words   |  6 PagesCulture . Under the Canadian Multiculturalism Act, Canadian citizens are free to exercise their rel igious and cultural practices . However, niqab ban takes effect in some public aspects of Canada . Supporters of the ban believes that wearing niqab is not a part of the Canadian Culture and should be banned in order to free Muslim Women from oppression . Niqab ban, however, infringes on the religious and cultural freedom instilled in the Canadian Multiculturalism Act and the Canadian Charter of RightsRead MoreEthnocentrism in America1186 Words   |  5 Pagescommon theme in the Arabic community is that culture and the Islamic faith are deeply intertwined. Islamic religion teaches that everyone should believe in God and practice religious customs. There is little room for differing, individual beliefs, such as agnostics. Unlike America, Arabic countries do not practice separation of church and state. Religion is taught in schools and promoted by the government. Bordering on religious fatalism, Islamic faith teaches â€Å"what will be, will be.† By comparison, AmericanRead M oreEssay on Islamic Societys Treatment of Women4405 Words   |  18 PagesIslamic Societys Treatment of Women From the time of birth, a Muslim womans place in Islamic society already has a shadow cast over it. Instead of the joyous cry that boys receive of Allah Abkar1 when they are born, a baby girl is welcomed into the world with a hushed Qurannic prayer. Although Islam venomously denies its role in the suppression of women, a survey of Islamic countries reveals that women are denied their humanity. The status of women in Islamic countries is undeniablyRead MoreHuman Rights Before And After Islam4363 Words   |  18 Pages Human Rights Before And After Islam Name: Institution: Professor: Introduction and background. Human rights has become one of the most complicated and complex challenge and issue for the twenty first century (Haneef, 2016). The Islamic culture has granted some fundamental human rights for the entire humanity, without discrimination based on any situation or background. The Western Countries claim to have been the founders of human rights after which the rest of the society or peopleRead MoreCharacteristics of the Modern Nation-State Essay1600 Words   |  7 Pagesthe, â€Å"Egypt’s leading roles in Middle Eastern in cultural and political affairs, generally dominates Egypt’s relations with other nations. In turn, this either broadens or limits the scope of choices and opportunities available domestically† (Kamel, 1999). Egypt as a state; their politics are organized under a multi-party semi-presidential system, where the executive power is divided between the President and the Prime Minister. Egypt also holds regular multi-party parliamentary elections; whichRead MoreReligious Arbitration : Australia And Canada2958 Words   |  12 Pages the weight for Islamic ladies to satisfy the religious commitments maintained by Sharia law, would keep on happening. Be that as it may, this issue could be counteracted with fitting intercession and cooperation in the middle of Sharia and Canadian law, which is one of the purposes behind the formal acknowledgment of Sharia laws in Canada. Around then, there is another concern of Sharia law in Ontario, which is the potential abuse of ladies rights associated with the Islamic convention. One ofRead MoreEssay about Extremist Islamic Terrorism: Jemaah Islamiyah 4102 Words   |  17 Pagesprovided in seven parts that cover key areas including the inception of JI, th e status and role of Ba’asyir, the ideological influence of Darul Islam, JI’s manifesto and operational charter, the splintering of JI and the future of Islamic extremists and the response from authorities. The analysis shows that Islamic extremism is not only present but prevalent in Indonesia today. Hard line groups like JI and the recently identified Aceh cell actively plan to conduct mass-casualty attacks on civiliansRead MorePluralism in Islam3199 Words   |  13 Pagescommunities relate to each other and to the larger nation whole.1 Base of Islamic Pluralism in the Light of Quran Reference to Islamic views on religious pluralism is found in the  Quran in a number of places. In order to understand Muslim attitudes towards other religions, a detailed study of Quranic verses is required. The most important principle Muslims have accepted and employed in reference to this issue throughout Islamic history in the light of Quran is there is no compulsion in religion. The

The Negro Digs Up His Past - 1700 Words

Why Dig Up the Past? This article â€Å"The Negro Digs Up His Past’’ by Arthur schomburg on 1925, elaborates more on the struggles of slavery as well as how history tend to be in great need of restoration through mindfully exploring on the past. The article, however started with an interesting sentence which caught my attention, especially when the writer says ‘’The American Negro must remark his past in order to make his future’’ (670). This statement according the writer, explains how slavery took away the great deal freedom from people of African descendant, through emancipation and also increase in diversity. The writer (Arthur Schomburg) however, asserts that â€Å"the negro has been throughout the centuries of controversy an active collaborator, and often a pioneer, in the struggle for his own freedom and advancement† (670). In other words, this tend to take a great vast amount of time for the society to understand the great impo rtance of intelligent people of African descendant, who tend to be capable of, just as any other ethics group, alternatively, for many centuries this has not be recognized because of the fact that the continuation of hatred and segregation flourished continually not until current decades, thereby, causing a standstill to the the advancement of the Africans. It is observed that the historical happenings have a great negativity on the face of the society, which is yet to be fixed. And so,Show MoreRelatedThe Negro Digs Up His Past920 Words   |  4 Pagesbeyond his times. In the article â€Å"The Negro Digs up His Past†. The beginning of this essay revealed a powerful statement, â€Å"The American Negro must remake his past in order to make his future† (Arthur Schomburg). It is very clear, Schomburg realized the importance of being knowledgeable on your true history. â€Å"History must restore what slavery took away, for it is the social damage of slavery that the prese nt generations must repair and offset†. Therefore, I acquiesce with such statement, it is up toRead MoreThe Negro Digs Up His Past By Arthur Schomburg1549 Words   |  7 Pages The article â€Å"The Negro Digs Up His Past’’ by Arthur schomburg on 1925, elaborates more on the struggles of slavery as well as how history tend to be in great need of restoration through mindfully exploring on the past. The article, however started with an interesting sentence which caught my attention, especially when the writer says ‘’The American Negro must remark his past in order to make his future’’ (670). 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[†¦] She stared at him incredulously (5) and covered her lips with her fingers, nodding demurely (6). Then she found courage enough to offer him some food from the kitchen, and all four of them walked up to the mansion and ate in the scullery

Justice In Platos The Republic Essay - 1010 Words

Justice In Platos The Republic Ralph Waldo Emerson once wrote â€Å"One man’s justice is another’s injustice.† This statement quite adequately describes the relation between definitions of justice presented by Polemarchus and Thrasymachus in Book I of the Republic. Polemarchus initially asserts that justice is â€Å"to give to each what is owed† (Republic 331d), a definition he picked up from Simonides. Then, through the unrelenting questioning of Socrates, Polemarchus’ definition evolves into â€Å"doing good to friends and harm to enemies† (Republic 332d), but this definition proves insufficient to Socrates also. Eventually, the two agree â€Å"that it is never just to harm anyone† (Republic 335d). This definition is fundamental to the idea of a†¦show more content†¦Although he leaves no room for the common good in his definition, his life seems to allow for some common good. This is based on his profession as an educator, whose job it is to share knowled ge with others and on his willingness to remain a contributing part of the discussion going on at the house of Polemarchus To determine which of these two definitions gives a better account of the â€Å"good life† it is necessary to establish what this â€Å"good life† is. According to Socrates in the Apology it is the greatest good for a man to discuss virtue every day †¦ for the unexamined life is not worth living† (38d). What this statement implies is that to live a good life we must first question and ponder our own ideas of a good life and then do the same with other peoples ideas. In this sense Polemarchus’s definition of justice most closely fits the good life because he allows for a common good that would result from examining the ideas of others and the sharing of information. To further display that Polemarchus’ definition of justice gives a better account of the â€Å"good life† I put forth my own definition of the â€Å"good life†. I have come to conclude through the lessons life has taught me thus far that the â€Å"good life† is one composed of love and understanding. Love of one’s self because with this I can maintain a sound mind and body, but without it I cannot love others. Love of family becauseShow MoreRelatedJustice in Platos The Republic Essay527 Words   |  3 Pages Plato creates a seemingly invincible philosopher in The Republic. Socrates is able to refute all arguments presented before him with ease. The discussion on justice in Book I of The Republic is one such example. Socrates successfully refutes each different view of justice presented by Cephalus, Polemarchus, and Thrasymachus. 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Plato’s argument begins with the observation that souls contain conflict; Conflict in the soul implies different parts that are opposed to each other (436b-438a). Desire is opposed by the calculating part of the soul (438a-439d). Spirit is different from both desire and the calculating part (439e-441c). Therefore, from (1)Read MoreThe Dichotomy Of Justice In Platos The Republic1752 Words   |  8 PagesThe Dichotomy of Justice In Plato’s The Republic, he defines justice by comparing it to a harmony between people within a society. Highlighting there are virtues that embody the idea of justice, Plato encompasses that there are several virtues to the actions of being just as he examines deductive reasoning through Socrates’s conversations with his students. Similarly in Aristotle’s Nichomachean Ethics, he strictly defines lawfulness to being just and unlawfulness to being unjust. 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Phones Down Heads Up free essay sample

Different viewpoints may arise when it in to technology today’s society. One may think it is convenient, while others my say it’s distracting. Cellphones are suitable for paying bills or making emergency calls in a severe situation. However, I believe that cellphones are more of a distraction rather than a useful source, because they make a person spend less time with their families or other important people, they allow to interfere with assignments, and they can be a safety hazard. To begin with, cellphones distract people from interacting and spending time with others. For me personally, I am guilty of ignoring people when on my phone. There have been plenty of times where my family would want me to watch a movie with them in the living room, but instead I go to my room and watch videos on my phone. I have become aware this issue and I have gotten myself more involved with my family household. We will write a custom essay sample on Phones Down Heads Up or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Which is the point I’m trying to get across that we should take breaks from our phones when we have company. Just like in one of the lines in Television by Lydia Davis which says, â€Å"And so we turn off the telephone during this program and do not answer the knock at the door that rarely comes. We watch closely.† I interpret these lines in the short story are saying that we are so distracted by technology that we ignore the little things that we should appreciate more. So, this connects with what I’m saying about telephones because just like the television, cellphones can be distracting someone from precious moments they could be having with others. Furthermore, cellphones interfere with getting assignments done. I know from experience because I catch myself being more occupied on my phone than my actual work. Usually, when I’m working on an assignment I get easily sidetracked with videos on my phone similar to what is said in Television, â€Å"It’s partly my isolation at night, the darkness outside, the increasing lateness of the hour, that makes the story on the television seem so interesting.† Sadly, I sometimes feel like the activities that go on in my life interest me so I seek to my cellphone to see what’s new just like how the character in television seeks enjoyment in television. On another note, people can fix this distraction problem by setting aside time for doing only work, then taking small breaks in between. For an example, if an individual had an essay they can set 30 minutes for work only and 10 minutes breaks once every half hour is up. This tip will certainly help when cellphones be come such a distraction when a task is needed to be completed. Lastly, I believe the overuse of a cellphone can be a safety hazard. In this case, texting and driving. There have been many cases of texting and driving leading to horrible accidents and even deaths. I remember one instance where me and my brother were riding in the car and brother’s phone was ringing while he was driving so he answered it, but as he answered it a car flew passed right in front of us without stopping. Luckily, my brother had great reflexes so he prevented the accident. On the other hand, just from answering his phone while driving we could’ve been in a serious collision. Fortunately, for me and my brother we have iPhones and with the new update we can set the phone to not allow phone calls or text messages while driving. To prevent a danger on the road from happening I recommend people with an iPhone to update their phones and people who don’t have iPhone to discipline themselves from texting/calling while driving. Without discipline from being on a cellphone during driving can result in a situation likewise to Accident by Dave Eggers that says, â€Å"The accident was your fault, and you walk over to tell them this. Walking over to their car which you have ruined.† I strongly feel that there should be a limit if cellphone usage to prevent hazards such as car accidents and more. Overall, I am not proposing cellphone usage needs to stop completely. They can be very useful, valuable, and convenient to an individual’s life. On the other hand, when people overuse their cellphones it can distract them from people they love, their work, and become hazardous in which there is a problem. Which is is why I am highly recommending our society to reduce the amount of cellphone usage due to the matter being a distraction. If people can put their phones aside for brief moments I think they will be satisfied with their result.

Causes and Effects of Oil Price Fall

Question: Describe in detail about causes and effects of oil price fall. Answer: Introduction: The world economy is vastly dependent upon the components related to the oil. Its factors including price, demand, supply etc. have a significant monetary impact on the global economy. It is noticed that the price of oil was stable till the mid of 2014 but after that, it has been fluctuating. Following to this fluctuation in oil price, some economy has earned huge profit where some other has incurred severe losses. The assignment deals with all the issue stated including, the economic impact of oil, countries that gained advantage and countries that suffered from losses etc. Background: The history claims that the fluctuation in the oil price always affects the economy according to the trend of the variability. In the 1980s, when the oil price had reached to a level which is marked as all-time low, the demand for the product had declined. A survey undertaken by Baumeister Kilian (2016), states that due to the global expansion the demand for oil has started rising during 1999-2008. Again during 2008-2011, due to the great recession the price fluctuation of oil occurred which was partially resolved on 2012 (Baumeister Kilian, 2016). This discussion has taken place because again from the mid of 2014, the oil price starts falling through the demand for the oil is increasing day by day. The report analyses the causes and the facts behind this strange behaviour of the oil price trend. Future Scope: The oil price is very mutable in nature and it changes if any economic changes occur (The Guardian, 2016). So, there is always some scope to research regarding this topic. This assignment teaches that there are several causes occurred for which the oil price could not be stable. Sometimes, lack of demand or sometimes due to excessive recession changes occurred in the price of oil. Reasons might occur differently and in a different way in future which can bring new scopes to study in future. Aim of the report: Oil price is an important factor for the economy and there are many countries whose economic condition depend on it. It is important to assess why these price fluctuations take place. The aim of this report is to identify and analyse the reasons for which the oil price fluctuation has taken place. Moreover, this assignment needs to state the effects that have occurred due to the reasons. Reasons behind oil price fall: It is seen in the report of Plumber (2016), that from the last half of 2014 till date, the oil price has been falling rigorously. This fall is not negligible because as per the analysis, it has dropped near about $38 per barrel which indicates that the 60% of the oil price has already dropped and still it shifts towards downward (Plumber, 2016). According to the theory of demand, price and supply, if the supply of product increases, the demand of the product remain unchanged then the products price starts dropping ceteris paribus(Wetzstein, 2013). Apart from the supply and demand, more components are there who have relations in provoking the price of the oil. In this specific situation, no major changes have been found in the demand factor of the oil price informed by Terra (2015). Moreover, the consumption of the oil price which has not changed substantially supports that this case of oil price fluctuation has taken place not only due changes occurred in supply but also due to changes occur in some other factors to. It is an important factor to be noted that the dollar value has been stronger day by day which simultaneously decreases the value of the commodities. The unit $ is usually used to measure global products (IMF, 2015). So its value increases automatically with a clear decline in the value of global goods. It is a main driver behind the oil price fluctuation. The conflict among the OPEC countries with regards to cut off production of the oil is another major reason behind this fall. In order to control supply countries have to cut the production to firm up the demand and so as the price. The problem has arisen because Saudi Arab along with other gulf countries have refused the proposal while Iran, Algeria, and Venezuela have wanted to do it (The Economist, 2016). This has been creating an oversupply of oil. So, increasing supply caused the problem of excessive supply of oil and hence will create pressure on the price towards downward. Most important of all, referring to the theory of demand and supply, it is to be noted that, the oversupply of the oil has increased the stock of the product. The production in 2015 has exceeded its expected level. The oil inventories have risen and hence declined the price level. Krauss (2016) has informed that the nuclear deal between Iran and US needs more oil exports which create fear in investors mind that this will cause again oversupply of oil. The market has come with the clear reaction in decreasing the price of the oil (Krauss, 2016). Effects of fall in price: India and China are two of the largest oil importing countries who import near about 80% oil of its total need (Bowler, 2015). This is the key reason that fall in oil price has been affecting the economy extensively. This oil price fall has risen the GDP growth of both the countries. The Economist (2016), states that this fall pressurizes the government of China to restructure the fiscal system and taxation system (The Economist, 2016). The deficit in current account balance of India and China has been reduced and gained surplus value due to this price fall. Consecutively the economic growth is improving. The oil price fall is considered as a boon to Indian economy because it decreases the inflation rate and the price of goods and services. Again it reduces the losses of the company and fiscal deficit of the country which was increased due to the high price of oil before. It also strengthens the value of the rupee. Some negativities are present related to these falls. India is known as sixth biggest oil exporting country (Bhattacharjee, 2013). Declined price impacts the export rate. India is suffering from trade deficit because an excess of imports and less of exports, so any fall in the export will affect the economy negatively. Critically speaking, in China, investment in the production of gas, oil, and other energy resources has been decreased due to this fall. As a result, China has been receiving lower GDP growth contribution from this industry (Kotak Securities, 2016). The oil exporting countries are facing severe losses as a result of this price fall. Both the countries will face a severe deficit in exporting the oil to other economies. Also due to the price fall the government of Iran and Saudi Arab as well will face losses in the domestic market to. The annual income of the Saudi Arab has fallen near about 23% in 2015 (Bowler, 2015). This industry brings 75% of the total earning in the Arabian and Iranian economy (Bowler, 2015). Bowler (2015), has added that a heavy budget deficit of $100bn has occurred and the share price has fallen sharply in Saudi Arab. This oil price has occurred as a ban for these major oil exporting countries. Still due to this price fall, the consumption side of the economy is getting benefitted. Due to the fall in oil price, people can consume more oil in the domestic economy and it erases the problem of oversupply. The Indonesian economy has lost 253trillion of its earning. The production of oil and gas industry have suffered 8% loss due to lack of potential investment in Indonesia (Yudha, 2015). This pressurizes the government to reconsider the subsidized price of oil in the economy which automatically will bring some major economic changes. The countries like the USA or Indonesia who are related to huge domestic consumption of oil has been affected in few aspects. It has failed to meet all benefits that could have been achieving if this situation had not occurred. However, it is seen that price fall of oil has occurred as a boon to the developed economies including USA (Appelbaum, 2016). It indirectly affects the economy because now it can consume more oil in less price. The USA is the biggest exporter of the automobile goods like cars, bikes etc. Demand and supply theory state that fluctuation in the price of complementary goods affects the demand for actual goods. If the price of oil falls then more people can afford it and will use personal vehicles instead of public transport. This will increase demand for both goods. Another important factor has been revealed that is the nuclear deal of USA demands more oil. During this price fall session, the USA can stock more oil because it is a necessary good for the deal. Simultaneously, the part who sells oil in the domestic market incur losses during the era. Affected Industries; Winners and Looser: In due courses, there are some industries who are being affected by this serious price fluctuation in oil. The effects come as both positive and negative way. It ultimately concludes that there are some winners and losers as a result of this price fall. The reduction in the price of oil reduces the fuel cost used in the airlines industry. It is observed that the airlines industry in different zone started providing attractive offers to the customers (Goodyear, 2016). Prices are set at a cheaper rate relative to before. This cost reduction has done a record in past three years because the price of oil has been declining at such a rate that even after providing those offers, the industry has achieved healthy revenue. Although it is justified because this oil is used as fuel in airlines industry and if the price of it falls then surely they will gain an advantage. Automobile industry also gains advantage from this phenomena because this oil and the vehicles are marked as complementary goods to each other. So, if the price of one falls then demand of other will increase (Bowler, 2015). This price fall drives the demand in automotive industry and hence they will enjoy a higher revenue and growth as well. Goodyear (2016), has added that the oil producing industries along with their nations face severe losses by this event and it seems a fatal for them. Major oil producing economies like Saudi Arab, Iran etc. will suffer from losses because now they will get a lower amount of revenue by producing and selling the same amount of oil. This happens because the product price has decreased drastically. On the other hand, the banking industry will also suffer because falling price of oil can decrease the number of loan intakes. If the amount of taking loan decreases then banking industry will receive a lower amount of interest rate. It declines to earn of the industry. So, they are considered as a sufferer in the era (Goodyear, 2016). Conclusion: This detailed analysis and discussion of the effect of oil price have highlighted several interesting fact. It is generally considered according to the economic perspective that a fall in a products price generally is a good factor for the economy. This assignment teaches that there are some exceptional goods to. The price fall for this good ultimately is considered as the loss for the economy. Oil, Gold are such kind of products and any modification in these products changes the situation of the world economy. This is to be kept in mind that every factor has some positivism but some major loopholes where this case of oil price fluctuation is not an exception. It is not that all outcomes brought by this case have gone wrong. It is to be concluded that both the causes and effects of oil is leaving some major irrevocable smudge in the world economy. Recommendations: The economy is getting very dynamic day by day but its dependency upon the oil is stable rather increases. The economy should have a quest of some alteration of oil, so that if its price fall harms then they can go for the substitute. Likewise, the use of diesel, battery, natural gas should increase to reduce the dependency on oil. It can save the economy from massive losses. Besides enjoying the advantages, the economy should have some proper arrangements to overcome its disadvantages. References Appelbaum, B., 2016. This Time, Cheaper Oil Does Little for the U.S. Economy. Baumeister, C. Kilian, L., 2016. Forty Years of Oil Price Fluctuations: Why the Price of Oil May Still Surprise Us. JOURNAL OF ECONOMIC PERSPECTIVES, 30(1), pp. 139-160. Bhattacharjee, P., 2013. A STUDY OF THE IMPACT OF CRUDE OIL PRICES ON INDIAN ECONOMY Bowler, T., 2015. Falling oil prices: Who are the winners and losers?. Goodyear, S., 2016. Sinking oil prices: Winners and losers. IMF, 2015. Global Implications of Lower Oil Prices. U.S., IMF. Kotak Securities, 2016. 5-ways-falling-oil-prices-affect-India. Krauss, C., 2016. Oil Prices Explained:Signs of a Modest Revival. Plumber, B., 2016. Why crude oil prices keep falling and falling, in one simple chart. Terra, C., 2015. Principles of International Finance and Open Economy Macroeconomics: Theories, Applications, and Policies.