7th Grade Social Studies

OPEC stands for the following:

• Organization of People Exporting Country
• Organization of People Exporting Cats
• Organization of Petroleum Exporting Countries
• Organization of Petroleum Exporting Continents

The purpose of OPEC is to:

• coordinate and unify the petroleum policies to create chaos in oil markets
• to unify the countries that produce petroleum to stabilize oil markets to secure a steady income to produces and a fair return on capital for those investing in the petroleum industry
• to disable the countries that produce petroleum to stabilize oil markets to secure a steady income to produces and a fair return on capital for those investing in the petroleum industry
• to unify the countries that produce petroleum to stabilize oil markets to secure a steady income to produces and an  unfair return on capital for those consumers in the petroleum industry

Tariff means:

• a tax to pay for social services
• a tax on income paid to the government
• a tax on purchases made on the internet
• a tax on imports or exports

Tags

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RL.7.4

CCSS.RL.8.4

a limit on the quantity of goods that can be produced abroad and sold domestically

• Embargo
• Quota
• Tariff
• Market

a partial or complete prohibition or ban between a group of countries that is imposed on imports and exports.

• Tariff 
• embargo
• quota
• exbargo

Which organization influences the price and the amount of oil that is produced.

• OPEC the Organization of Petroleum Exporting Continents
• OPEC the Organization of People Exporting Cats
• OPEC the Organization of People Exporting Coal
• OPEC the Organization of Petroleum Exporting Countries

Which of the following are all countries are part of OPEC?

• Iran, France, United States, Nigeria
• Iran, Japan, Gaban, Kuwait
• Iran, Saudi Arabia, Iraq, Kuwait
• Iran, Jamaica, Phillippines, Qatar

The economy of Israel, Turkey, Saudi Arabia, Iran are:

• unfair
• mixed
• command
• traditional

______________ _________________ is an economy in which decisions regarding investment, production, and distribution are based on supply and demand,^[1] and prices of goods and services are determined in a free price system.^[

• Market Economy
• Traditional Economy
• Command Economy
• Economic Economy

__________________ _____________________ A system where the government,  determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale.

• Parental Economy (love you Kaelyn)
• Command Economy
• Traditional Economy
• Market Economy