Which of the following represents an example of a major cartel in global markets?
A) The Organization of Wheat and Corn Exporting Countries (OWCEC).
B) The Organization of Petroleum Exporting Countries (OPEC).
C) The Brotherhood of Scrap Iron Exporting Countries (BSIEC).
D) The Amalgamated Association of Alfalfa Producing Countries (AAAPC).

Question

​ Which of the following represents an example of a major cartel in global markets?
A) ​The Organization of Wheat and Corn Exporting Countries (OWCEC).
B) ​The Organization of Petroleum Exporting Countries (OPEC).
C) ​The Brotherhood of Scrap Iron Exporting Countries (BSIEC).
D) ​The Amalgamated Association of Alfalfa Producing Countries (AAAPC).

Quizplus · Accepted Answer

The Organization of Petroleum Exporting Countries (OPEC) is a major cartel in global markets. It is composed of 13 member countries and controls a significant portion of the world's oil supply. The other options, OWCEC, BSIEC, and AAAPC, are not real organizations and do not represent major cartels in global markets.

​ Which of the Following Represents an Example of a Major

Which of the Following Represents an Example of a Major