OECD Is an Important Supranational Entity

question 51

Multiple Choice

OECD is an important supranational entity. What do the letters OECD stand for?

• A) Organization of Electrical Companies Directorate
• B) Oil Exporting Countries and Developers
• C) Organization for Economic Cooperation and Development
• D) Oil Exporting Corporations and Divisions

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Definitions:

Subsidy

A financial contribution granted by the government or a public body to help an industry or business keep the price of a commodity or service low.

Marginal Costs

The increase in cost resulting from the manufacture of one additional unit of a good or service.

Decreasing Costs

Situations in which costs diminish as the level of production or scale of operations increases.

Efficiency

The extent to which time, effort, or cost is well-used for the intended task or purpose.