Which of the Following BEST Describes the Role of the Organization

question 68

Multiple Choice

Which of the following BEST describes the role of The Organization of Petroleum Exporting Countries as a marketing organization?

• A) It uses a pricing strategy of controlling world prices through collective action.
• B) It is regulated by NAFTA and the EU.
• C) It uses countertrade to obtain valuable foreign investments.
• D) It was formed to address the growing competition from Venezuela and North Sea crude exploration.

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Definitions:

Obedience

The act of following orders or directions from authority figures, often studied in psychology to understand the extent and limits of social influence.

Reciprocity

A social norm of responding to a positive action with another positive action, fostering mutual benefit and cooperation.

Mere-Exposure Effect

A mental effect in which individuals naturally favor items or concepts they recognize due to their familiarity.

Halo Effect

A cognitive bias where the perception of one positive trait in an individual leads to the assumption of other positive traits or abilities.