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horrorfan [7]
3 years ago
11

Risk is the difference between the total cost of production and the total

Social Studies
1 answer:
olganol [36]3 years ago
4 0
I think this answer is true !!
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How does OPEC actions impact the oil prices around the world especially on “WTI Crude” & “Brent Crude”? And why?
juin [17]

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.

3 0
3 years ago
According to the this map, which four regions are the most densely populated? Australia, Africa, Europe, Southeast Asia, South A
Irina-Kira [14]

Answer:

Europe

Southeast Asia

South America

North America

YW!!!

8 0
3 years ago
Suppose that Juan Carlos is filling out a survey that he received in the mail. The survey asks him what he would do if the price
zepelin [54]

Answer:

the definition of a market in determining the price elasticity of demand

Explanation:

In economics, the price elasticity of demand is the measure used to determine the responsiveness and the elasticity of a quantity demanded for a good or a service to increase in the price when nothing but only the price of the product changes. It is the measure to show the demand of a product in relation to the price change of the product.

In the context, Juan Carlos is is filling up a survey regarding the demand or purchasing of toothpaste when the price of the toothpaste changes. Thus this is important to study the price elasticity of demand of a product in the market economy.

3 0
3 years ago
What effect did the increase in leisure time have?
Yuki888 [10]
One of the effect of the increase in leisure time is the development of public places that built for the people who wanted to enjoy their leisure time, such as library, public parks, coffee shops, etc
8 0
3 years ago
Which is not a major advantage of a sole proprietorship?
Ket [755]
Being-independent!!!!
6 0
3 years ago
Read 2 more answers
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