Natural Resource Cartels Such as OPEC Are Inherently Unstable Because

question 104

True/False

Natural resource cartels such as OPEC are inherently unstable because their members operate with excess capacity and have an incentive to cheat on their output quotas.

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Definitions:

Simple Equality

The concept that two quantities are the same in value or amount, often represented mathematically as an equation.

Preconventional Morality

The first level of Kohlberg's theory of moral development, where moral reasoning is based primarily on consequences and personal benefits.

Postconventional Morality

A stage of moral development in which individuals reason based on personal principles and values that may differ from societal norms.

Ethical Principles

Fundamental guidelines that influence decision-making and behavior, emphasizing concepts such as fairness, respect, responsibility, and integrity.