The main role of the Organization of Petroleum Exporting Countries (OPEC) is
Fixing oil production levels
Ensuring optimum production of oil
Promoting efficiency in the management of oil
Supply oil at affordable rates
Correct answer is A
No explanation has been provided for this answer.
A country is economically rich if
If there is a lot of money in circulation relative to its population
It has a large volume of goods and services relative to its population
It has a large reserve of idle skilled manpower
There is a large amount of reserved mineral resources
Correct answer is B
No explanation has been provided for this answer.
Which of the following is a major barrier to international trade?
Religious differences amongst nations
Uneven distribution of population across the world
Educational imbalace between the developed and developing countries
Ideological differences amongst nations
Correct answer is D
No explanation has been provided for this answer.
The exchange of goods and services across countries can be described as
Bi-lateral trade
Multilateral trade
National trade
Home trade
Correct answer is B
No explanation has been provided for this answer.
Balance of payment deficit can be corrected by
Purchasing foreign assets
Accumulating foreign reserves
Export promotion measures
Import promotion measures
Correct answer is C
No explanation has been provided for this answer.