Question

In a brief paragraph, outline the ways in which OPEC is a trade barrier?

Answer 1

Answer:

OPEC can be observed as a trade barrier because it could hypothetically completely exclude a country from trading with countries that produce oil and this would make life much harder for those countries. For example, OPEC introduced an embargo on the US in 70s and there was a huge spike in gas prices and a shortage of fuel.

Explanation:

Answer 2

Answer:

OPEC can be observed as a trade barrier because it could hypothetically completely exclude a country from trading with countries that produce oil and this would make life much harder for those countries. For example, OPEC introduced an embargo on the US in 70s and there was a huge spike in gas prices and a shortage of fuel.

Explanation:

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