Which of the Following Events Helped Identify Global Linkages Causing

question 50

Multiple Choice

Which of the following events helped identify global linkages causing the world to realize that the systems of product development, distribution, and consumption are intertwined and related?

• A) The worldwide oil crisis of 1970
• B) Gulf War I and Gulf War II
• C) International all-stars playing in the World Series
• D) The trans-continental joining of the United States by railroad

---

Definitions:

Cartel

An association of independent companies or organizations formed to control production, pricing, and marketing of goods to suppress competition.

Perfectly Competitive

A market structure where there are many buyers and sellers, goods are homogeneous, and there is free entry and exit in the market.

Marginal Cost

The boost in overall cost that comes from generating one extra unit of a product or service.

Quantity Effect

The change in quantity demanded or supplied of a product as a result of changes in its price.