CLEAN : FILE: OPEC move to keep oil output target sparks price slump

CLEAN : FILE: OPEC move to keep oil output target sparks price slump

Assessment

Interactive Video

Business, Social Studies, Other

9th - 10th Grade

Hard

Created by

Quizizz Content

FREE Resource

The transcript discusses the economic situation and the importance of taking it seriously. It highlights OPEC's role in stabilizing the market through consensus, addressing concerns over crude oil production and its impact on economies. The discussion also covers market reactions and strategic approaches to address the downward trend.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important to have a unified presence in economic discussions?

To avoid any form of disagreement

To make decisions without any discussions

To ensure everyone agrees on all points

To present a strong front despite differing views

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary role of OPEC as discussed in the video?

To eliminate competition

To reduce oil production

To stabilize the oil market

To increase oil prices

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is reaching a consensus important for OPEC members?

To eliminate other oil producers

To reduce production costs

To increase individual profits

To ensure market stability

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a major concern for economies dependent on crude oil production?

Increasing production costs

Decreasing oil demand

Stabilizing market trends

Rising competition

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is suggested as a poor strategy for dealing with market changes?

Waiting for the market to react naturally

Taking immediate action

Increasing production

Reducing oil prices