WAEC Economics 2025 Objective — Question 50
Question 50 of 51 from the West African Examinations Council (WAEC) Economics 2025 Objective paper, with the correct answer and a full explanation.
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The Organization of Petroleum Exporting Countries (OPEC) prevents excess global supply of crude oil by
- A. buying up the extra volume produced by members in the oil market.
- B. fixing production quotas for all member countries.Correct
- C. expelling erring member countries from the organization.
- D. taking legal actions against members at the world court.
Explanation
OPEC controls global oil supply mainly by setting production quotas for its member countries.
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