In the 1970s, the Organization of Petroleum Exporting Countries (OPEC)

question 29

Multiple Choice

In the 1970s, the Organization of Petroleum Exporting Countries (OPEC) tripled the price of petroleum, causing automobile manufacturers to look for ways to produce more fuel-efficient cars by substituting aluminum and plastic for steel.This was primarily a response to the economic question of:

• A) When will each good be produced?
• B) For whom shall the goods be produced?
• C) What goods and services should a society produce?
• D) How should goods and services be produced?

---

Definitions:

Franchisee Control

Franchisee control involves the governance and regulatory measures that a franchisee must adhere to as set by the franchisor, often detailed in the franchise agreement.

Personnel Training

The process of teaching employees the skills, knowledge, and competencies required for their current or future job roles.

Franchise Termination

The legal ending of a franchise agreement, either through the expiry of the contract term, mutual agreement, or breach of contract.

Franchise Agreement

A legal contract in which a franchisor grants the franchisee the rights to use its trademark, sell its products, or operate under its brand for a specified period.