Which Choice Explains How the OPEC Crisis of 1973 Affected

question 63

Multiple Choice

Which choice explains how the OPEC crisis of 1973 affected oil prices?

• A) The supply of oil was reduced, leading to a rise in oil prices.
• B) The supply of oil was increased, leading to a fall in oil prices.
• C) The demand for oil increased, leading to a rise in oil prices.
• D) The demand for oil decreased, leading to a fall in oil prices.

Identify various types of ventures and their social impact, including social purpose ventures and social consequence entrepreneurship.

Compare and contrast social entrepreneurs with traditional entrepreneurs.

Comprehend the importance of social value creation in entrepreneurship.

Understand the concept and types of venture philanthropy funding.

---

Definitions:

Capital-Saving Technology

An improvement in technology that permits a greater quantity of a product to be produced with a specific amount of capital (or permits the same amount of the product to be produced with a smaller amount of capital).

Capital Consumption

The diminution of physical capital's value over time due to use, wear and tear, or obsolescence, also known as depreciation.

Private Capital Flows

Financial resources transferred from private entities in one country to private entities in another, typically through direct investment or loans.

Vicious Circle of Poverty

A self-perpetuating mechanism whereby poverty leads to conditions that perpetuate poverty, making it difficult to escape without external intervention.