The term 'oil shock' is used to describe a situation in which
ECONOMICS
JAMB 2006
The term 'oil shock' is used to describe a situation in which
- A. the demand for oil exceeds its supply
- B. oil prices have fallen drastically
- C. the demand for oil is equal to ite supply
- D. the supply of oil exceeds its demand
Correct Answer: B. oil prices have fallen drastically
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