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In the 1970s, the Organization of Petroleum Exporting Countries (OPEC)

Question 3

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In the 1970s, the Organization of Petroleum Exporting Countries (OPEC)
Tripled the price of petroleum, causing automobile manufacturers to look for ways to produce more fuel-efficient cars by substituting aluminum and plastic for steel.This was primarily a response to the economic question of:


A) When will each good be produced?
B) For whom shall the goods be produced?
C) What goods and services should a society produce?
D) How should goods and services be produced?

Correct Answer:

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