Given That OPEC [Organization of the Petroleum Exporting Countries] Has

question 91

Multiple Choice

Given that OPEC [Organization of the Petroleum Exporting Countries] has been a successful cartel,all of the following factors could have contributed to its success,except:

• A)a low price elasticity of demand for oil.
• B)an increase in the consumption of products that require oil.
• C)OPEC's ownership of a large percentage of known oil reserves.
• D)a high supply elasticity of crude oil by non-OPEC producers.

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Definitions:

Social Deprivation

A lack of regular and enriching social interactions and relationships, leading to negative impacts on mental and emotional well-being.

Infants

Young children in the earliest stage of life, typically from birth to one year old, characterized by rapid physical and cognitive development.

Ethics

The moral principles that govern a person's behavior or the conducting of an activity.

Social Deprivation

A condition resulting from the lack of social interactions, relationships, and access to social resources.