Crude oil.
The prices are between $165K to $200 K. At present prices are below $165 K.
A unit rate used to compare prices is called a [UNIT PRICE]
False, global events often affect oil prices. The Gulf War is a prime example of this.
The price of a good or service that is being offered at a discount.
Prices rise when the government prints too much money.
OPEC
The name for a formal organization of producers that agree to coordinate prices and production is called a cartel.
A cartel.
Businesses agreed to limit production.
Businesses agreed to limit production.
a group of producers working together to raise prices and profits
cartel
A Cartel
A cartel is an agreement among competing firms. Prices, marketing, and production come with fixed prices. A centralized and market sharing cartel is loosely formed and distribution of profits are not determined in a perfect manner. Each market is able to change the product in small ways, so as not to produce the same product.
to control competition and keep prices high
To control competition and keep prices high
A cartel