QUESTION 14 The underlying reason why the expected future pr

QUESTION 14 The underlying reason why the expected future price of gasoline plays an important role in the current price of gasoline is because along the supply chain firms want to hold onto gasoline when they think the price is about to rise and sell it quickly when they think the price is about to fall the market is overly regulated the market is governed by two major players. the government is in complete control of the energy market. QUESTION 15 OPEC stands for Oil and Petroleum Exporting Companies. Organization of Petrol Exploiting Companies. Organization of Petroleum Exporting Countries. O Oil Producing and Exploiting Countries. QUESTION 16 A state that has a large pool of oil embedded in porous rock deep below its surface is North Dakota. Florida. Delaware Kansas.

Solution

Answer 14. a ) as supply chains want to hold , when price is about to rise and vice versa.

Answer 15= OPEC : ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES.

Answer 16 = North Dakota.