In the Early 1970s,OPEC's Goal Was to

question 5

Multiple Choice

In the early 1970s,OPEC's goal was to

• A)decrease the world-wide price of oil so that the quantity demanded increased,thus raising total revenues for OPEC members.
• B)increase the world-wide price of oil by reducing the quantity of oil supplied.
• C)increase the world-wide price of oil by increasing the quantity of oil supplied,thus raising total revenues for OPEC members.
• D)decrease the world-wide price of oil so that quantity demanded increased.

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Definitions:

Unequal Access

A situation where resources, opportunities, or services are distributed unevenly among different groups in society.

Affordability

The degree to which a good or service is priced at a level that is accessible to individuals or communities, often in relation to income and expenses.

Latent Function

Unintended and unrecognized consequences of an institution or social phenomenon.

Education

The process of receiving or giving systematic instruction, particularly at a school or university, fostering knowledge and skill development.