An Association of Producers Such as OPEC That Agrees to Set

question 10

Multiple Choice

An association of producers such as OPEC that agrees to set common pricing or output goals is referred to as a

• A) cartel.
• B) conglomerate.
• C) monopoly.
• D) partnership.

---

Definitions:

Predict Phenomena

The act of forecasting or making predictions about future events based on current or past data.

Empirical Inquiry

The method of seeking knowledge through observation, experimentation, and empirical evidence rather than through theory or pure logic.

Disconfirmation

The action of proving a belief, hypothesis, or theory to be wrong or false.

Confirmation

The act of verifying or validating a hypothesis, statement, or belief by obtaining evidence that supports it.