JAMB Commerce 2023 Objective — Question 33

Question 33 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2023 Objective paper, with the correct answer and a full explanation.

OPEC is A.

A. A cartel.Correct
B. Pressure group.
C. Manufacturers association.
D. Monopoly.

Explanation

OPEC is the standing organisation that regulates oil production of its members. Thus, it is a cartel. (Use the following information to answer questions 34-35: Freehold Premises 30,000; Trade creditors 5,600; Stock 15,000; 5% loan 2,000; Receivables 7,600.)

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Commerce 2023 Objective More Commerce past papers