1. OPEC
C) is a cartel of producing countries, with
most, but not all members in the Middle East.
2.
Residential electricity is typically sold in markets governed by
C) regulated
monopolists.
3. When
people are influenced by a tax or regulation to do something they might not
otherwise do then economists call this
A)
an incentive.
4. The fact that production cannot exceed what
is possible given available resources indicates that there is
A) scarcity.
All correct
answers submitted by;
Zenaida and Alisha of F.Y.B.Com.
