Which of the Following Statements Regarding OPEC Is False

question 82

Multiple Choice

Which of the following statements regarding OPEC is false?

• A)Because it sells a homogeneous product, since its formation in 1960 OPEC has been the clear leader when it comes to determining the price of crude oil.
• B)OPEC's membership includes countries from the Middle East, Africa, and South America.
• C)Over time, OPEC's ability to control the price of oil has been constrained by changes in consumer demand and increased production of oil by non-member countries.
• D)The cartel has not always been successful when it comes to preventing individual members from cheating on the agreed upon production quotas.

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Definitions:

Myelin Sheath

A fatty layer that surrounds the axons of some neurons, providing insulation and improving the speed of electrical impulses.

Axons

Long, threadlike parts of nerve cells along which impulses are conducted from the cell body to other cells.

Fatty Material

Substances composed of lipids, such as fats and oils, that are important for energy storage and cell structure in living organisms.

Peripheral Nerves

Nerves located outside the brain and spinal cord, responsible for transmitting information between the central nervous system and the rest of the body.