If There Is a Surplus in the Oil Market, Then

question 135

Multiple Choice

If there is a surplus in the oil market, then the price of oil will:

• A) rise.
• B) fall.
• C) remain unchanged.
• D) react unpredictably.

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Definitions:

Patent

An exclusive right granted for an invention, which provides the patent holder with protection for the invention from commercial exploitation by others.

Intangible Asset

An asset that lacks physical substance, such as patents, trademarks, goodwill, and copyrights, which can nonetheless provide economic benefits.

Oil Well

A drilling operation focused on extracting petroleum or natural gas from underground reservoirs, usually involving significant exploration and investment.

Goodwill

The excess of the purchase price over the fair value of identifiable assets and liabilities acquired in a business combination.