After Its Early Success in the 1970s, OPEC Experienced a Drop

question 235

Multiple Choice

After its early success in the 1970s, OPEC experienced a drop in world oil prices and a corresponding drop in oil revenues for its members, due to

• A)the fall of the elasticity of demand for oil.
• B)the growth in the number of oil buyers.
• C)OPEC members failing to produce the output that was agreed upon.
• D)a sharp rise in the demand for oil.

---

Definitions:

Source's Reputation

The general opinion or perception regarding the credibility and reliability of a particular information source.

Purpose Material

Content or documents created with a specific goal or intention in mind, often to inform, persuade, or educate a target audience.

Independently Verified

Confirmed or validated by a third-party source without any connection to the subject being verified.

Author Credible

A measure of how trustworthy and knowledgeable the author of a piece of content is considered, often based on their expertise and previous work.