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Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:
Assertion (A): Oil Producing Companies have an oligopoly market.
Reason (R): There are only few countries that produce and export crude oil in the whole world.
- a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).
- b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).
- c)Assertion (A) is true, but Reason (R) is false.
- d)Assertion (A) is false, but Reason (R) is true.
Correct answer is option 'A'. Can you explain this answer?
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Direction: In the following questions, a statement of Assertion (A) i...
Throughout history, there have been oligopolies in many different industries, including steel manufacturing, oil, railroads, tire manufacturing, grocery store chains, and wireless carriers. Other industries with an oligopoly structure are airlines and pharmaceuticals.
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Direction: In the following questions, a statement of Assertion (A) i...
Assertion (A): Oil Producing Companies have an oligopoly market.
Reason (R): There are only few countries that produce and export crude oil in the whole world.
The correct answer is option 'A': Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).
Explanation:
Definition of Oligopoly:
An oligopoly is a market structure where a few large firms dominate the industry. These firms have the power to influence prices and control the market due to limited competition.
Explanation of Assertion (A):
Oil producing companies operate in an oligopoly market. This means that there are only a few major firms in the industry that control the production and supply of crude oil. These companies have significant market power and can influence prices and market conditions. They often collaborate to maintain high prices and limit competition.
Explanation of Reason (R):
The reason behind the assertion is that there are only a few countries that produce and export crude oil in the world. The production of crude oil requires significant investment in infrastructure, technology, and resources. As a result, only a limited number of countries have the capability to produce and export crude oil on a large scale. These countries, such as Saudi Arabia, the United States, Russia, and Iraq, have a dominant position in the global oil market.
Explanation of the Correct Answer:
The correct answer is option 'A' because both the Assertion (A) and Reason (R) are true and Reason (R) provides a correct explanation for Assertion (A).
Conclusion:
Oil producing companies operate in an oligopoly market due to the limited number of countries that produce and export crude oil. The dominance of a few major firms in the industry allows them to exert control over prices and market conditions. This oligopoly market structure has significant implications for the global oil market and the economy as a whole.
Reason (R): There are only few countries that produce and export crude oil in the whole world.
The correct answer is option 'A': Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).
Explanation:
Definition of Oligopoly:
An oligopoly is a market structure where a few large firms dominate the industry. These firms have the power to influence prices and control the market due to limited competition.
Explanation of Assertion (A):
Oil producing companies operate in an oligopoly market. This means that there are only a few major firms in the industry that control the production and supply of crude oil. These companies have significant market power and can influence prices and market conditions. They often collaborate to maintain high prices and limit competition.
Explanation of Reason (R):
The reason behind the assertion is that there are only a few countries that produce and export crude oil in the world. The production of crude oil requires significant investment in infrastructure, technology, and resources. As a result, only a limited number of countries have the capability to produce and export crude oil on a large scale. These countries, such as Saudi Arabia, the United States, Russia, and Iraq, have a dominant position in the global oil market.
Explanation of the Correct Answer:
The correct answer is option 'A' because both the Assertion (A) and Reason (R) are true and Reason (R) provides a correct explanation for Assertion (A).
Conclusion:
Oil producing companies operate in an oligopoly market due to the limited number of countries that produce and export crude oil. The dominance of a few major firms in the industry allows them to exert control over prices and market conditions. This oligopoly market structure has significant implications for the global oil market and the economy as a whole.
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Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Oil Producing Companies have an oligopoly market.Reason (R): There are only few countries that produce and export crude oil in the whole world.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?
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Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Oil Producing Companies have an oligopoly market.Reason (R): There are only few countries that produce and export crude oil in the whole world.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Oil Producing Companies have an oligopoly market.Reason (R): There are only few countries that produce and export crude oil in the whole world.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Oil Producing Companies have an oligopoly market.Reason (R): There are only few countries that produce and export crude oil in the whole world.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?.
Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Oil Producing Companies have an oligopoly market.Reason (R): There are only few countries that produce and export crude oil in the whole world.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Oil Producing Companies have an oligopoly market.Reason (R): There are only few countries that produce and export crude oil in the whole world.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Oil Producing Companies have an oligopoly market.Reason (R): There are only few countries that produce and export crude oil in the whole world.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?.
Solutions for Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Oil Producing Companies have an oligopoly market.Reason (R): There are only few countries that produce and export crude oil in the whole world.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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Here you can find the meaning of Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Oil Producing Companies have an oligopoly market.Reason (R): There are only few countries that produce and export crude oil in the whole world.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Oil Producing Companies have an oligopoly market.Reason (R): There are only few countries that produce and export crude oil in the whole world.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Oil Producing Companies have an oligopoly market.Reason (R): There are only few countries that produce and export crude oil in the whole world.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Direction: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Oil Producing Companies have an oligopoly market.Reason (R): There are only few countries that produce and export crude oil in the whole world.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
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