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Author Question: OPEC is an example of a producer's cartel that is successful because of its ability to institute ... (Read 57 times)

Anajune7

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on: Jul 7, 2018
OPEC is an example of a producer's cartel that is successful because of its ability to institute tariffs on oil exports.
 
  Indicate whether the statement is true or false

Question 2

Are commodity agreements effective? Why or why not?
 
  What will be an ideal response?
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ju

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Reply #1 on: Jul 7, 2018
Answer to Question 1

This forum is amazing.

Answer to Question 2

Commodity agreements used to be influential in helping to stabilize commodity prices, but now they are more involved in disseminating information and promoting research. OPEC is an example of an effective producers' cartel that operates on quotas to try to stabilize prices. In general, very little can be done outside of market forces to influence price.


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