The Regime Changes in Tunisia, Egypt, and Libya Through 2011

question 3

Multiple Choice

The regime changes in Tunisia, Egypt, and Libya through 2011 resulted in:

• A) an increase in the demand for oil and an increase in price.
• B) a decrease in the demand for oil and a decrease in price.
• C) an increase in the supply of oil and a decrease in price.
• D) a decrease in the supply of oil and an increase in price.

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Definitions:

Nonexclusive

A characteristic of a good or service that allows multiple users to use or consume it simultaneously without excluding others.

Public Good

A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization.

Public Good

A good that is non-excludable and non-rivalrous, meaning its consumption by one individual does not reduce its availability to others and people cannot be effectively excluded from using it.

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be used simultaneously by more than one person without reducing its availability to others.