What Was the Intention of Five Major Producing Countries-Iraq, Iran

question 22

Multiple Choice

What was the intention of five major producing countries-Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela-in the founding of the Organization of Petroleum Exporting Countries (OPEC) in 1960?

• A) To assert economic independence
• B) To utilize the collective-bargaining power of its member states in order to pressure the Western oil companies to increase oil prices
• C) To gain a greater measure of control over pricing policies
• D) All of the answers are correct

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Definitions:

Organizational Behaviour

The study of how people interact within groups, particularly in a work setting, aiming to understand and improve job performance and satisfaction.

Values

Core beliefs or standards that guide and motivate attitudes and actions, reflecting what is important to an individual or organization.

Equity

The concept of fairness or justice in the manner of treatment or distribution of resources among individuals or groups.

Attitude

An attitude is a psychological construct representing an individual's degree of like or dislike for an item, person, thing, or event.