Which of the Following Will Weaken OPEC's Effect on the World

question 124

Multiple Choice

Which of the following will weaken OPEC's effect on the world price of oil?
(i) member countries increase their own production
(ii) member countries set their level of production in order to capture a larger share of the total profit available
(iii) member countries abide by the regulatory policy set forth under the original collusive agreement

• A)(i) and (ii)
• B)(ii) and (iii)
• C)(i) and (iii)
• D)(i) only

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Definitions:

First In/First Out

An inventory management and valuation method where the first items produced or acquired are the first ones to be expended or sold.

Layoffs

The act of terminating employees, often for economic or business restructuring reasons, rather than individual performance issues.

Multicultural Organization

An organization that embraces diversity, promotes inclusivity, and integrates a variety of cultural perspectives into its operations and values.

Societally Based Subcultures

Groups within a larger society that distinguish themselves through unique cultural norms, values, and practices, often formed around shared interests or identities.