Natural Resources and the Environment Toward Sustainable Development
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- Subject
- Natural Resources and the Environment Toward Sustainable Developmenteconomics-mcqs › natural-resources-and-the-environment-toward-sustainable-development
- Published
- 30 May 2019
- Last updated
- 28 May 2026
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Which nation holds approximately 25% of the world's proven oil reserves, has the lowest production costs, and plays a leading role in OPEC's pricing decisions?
Multiple choice question for Natural Resources and the Environment Toward Sustainable Development. Select an option, then review the explanation below.
Explanation
Saudi Arabia possesses about a quarter of global oil reserves, benefits from the lowest extraction costs, and exerts significant influence over OPEC's pricing strategies.
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Practice related questions from the same subject.
- 1.Which of the following items is not included in the calculation of the UK's GDP?
- 2.Real GDP is calculated using _________ prices, whereas nominal GDP is calculated using _________ prices.
- 3.A cobbler purchases leather for Rs100 and thread for Rs50, then crafts and sells shoes valued at Rs500 to customers. What is the contribution to GDP from this activity?
- 4.What does Gross Domestic Product (GDP) represent in terms of market value?
- 5.Which of the following represents the components used to calculate Gross Domestic Product?