Answer:
The OPEC member countries control a large percentage of the world's oil production which gives them a lot of power to affect world oil prices.
Explanation:
OPEC with a total number of 14 members at present produces about 40 percent of the world's crude oil. Therefore, OPEC actions do affect international oil prices because of the size of the market share the collective controls. However, there are also oil sources beyond the OPEC states. For example, Brent Crude refers to oil that is produced in the Brent oil fields and other sites in the North Sea. WTI is the benchmark crude for North America. WTI is better suited to the production of gasoline while Brent oil favors diesel fuel production. Because together OPEC holds three-quarters of the world's conventional oil reserves and has the world's lowest barrel production costs, it can influence world oil prices and supply by deciding to either produce more or less barrels. If OPEC lowers production the price of oil increases because Brent and WTI have to make up the difference, and their production prices are higher. However, OPEC's ability to affect prices is changing with Canada, China, Russia and the United States increasing their own output in recent years.
Answer:
1. It involves risk. In crop rotation, investing in a season involves input of much money to buy different seedlings of the different types of crops to be planted.
2. Improper implementation can cause much more harm than good.
3. Obligatory crop diversification.
Answer:
Option A
Explanation:
When trying to understand issues, silence is a great tool, To be in the mood of silence, it helps to get every details of an issue or explanation.
Relating this to the answer choices above, it is very useful when you are following detailed analysis of the client issues, when your client is trying to explain the what he/she observed to be the root cause of a problem, when you are silence and paying attention, it help you to understand your customers pain point and helps to figure out how to solve the problem.
Answer:
Check the explanation
Explanation:
The biggest and most notable reason why oligopolies exist is collaboration. A lot of Firms see more economic advantages in collaborating on a precise price than in trying to battle and drag price competitively with their competitors. By controlling prices in a cartel like way, oligopolies are able to raise their difficulty to entry.
A few oligopolists whose products I make use of are GMC, Samsung, Dell, Apple, UPS, and BP.
Oligopoly is differentiated from monopolistic competition in that oligopoly is comprised of a small number of businesses and they have distinguished or homogeneous products and trying to break-in into their line of business is very difficult.
Answer: Status
Explanation: This can be defined as the height of regards, honor and high regards given to a particular person, company, in a social group. it is mostly regarded as prestige, lifestyle, skills associated with a person in a social group. the way people see you, study you, regards accorded to you, deference, respect and honor given to you and even talk about you among a certain group or organisation is usually perceived as status.
