A Famous Cartel That Dramatically Increased the Price of Oil

question 166

Multiple Choice

A famous cartel that dramatically increased the price of oil in the mid-1970s was

• A)OTEC
• B)IMF
• C)OECD
• D)OPEC
• E)LDC

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Definitions:

Collections

The act of seeking out the settlement of debts from businesses or individuals.

Operating Activities

Cash flows related to the day-to-day functioning of a business, such as selling products or services, which are included in the first section of the cash flow statement.

Merchandiser

A business or person who promotes, buys, sells, or distributes goods and commodities for resale.

Income Statement

A report that outlines a business's financial results, including income, expenses, and net profit or loss, for a designated accounting period.