A glut in the world market for crude oil means?
Question
A glut in the world market for crude oil means?Options
A)
a fall in crude oil production
B)
an excess supply of crude petroleum
C)
a higher crude oil price offered by the buyer
D)
a higher crude oil price demanded by the seller
Related Lesson: The Theory of Absolute Advantage | Fundamentals of International Trade
The correct answer is B.
More Past Questions:
Discussion
Other Subjects
- English Language
- Biology
- Government
- Mathematics
- Physics
- Chemistry
- Christian Religious Knowledge
- Commerce
- Geography
- Literature In English
- Accounts
- Agricultural Science
- General Paper
- Islamic Religious Knowledge
- History
- Further Mathematics
- Current Affairs
- Civic Education
- Computer Studies
- Yoruba
- Hausa
- Igbo
- French
- Home Economics
- Sweet Sixteen
- Fine Arts