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Marketplace: Oil Is a Slippery Business
Source: Council for Economic Education (EconEdLink) | Type: Lesson
OPEC is generally seen as the primary institution that controls oil prices. Is that what OPEC really does? Use this lesson to get an overview of the history and function of this institution.
Grades:
Concepts:
- Demand
- Market Economy
- Markets
- Production
- Supply
Standards:
- Economics 7: Markets - Price and Quantity Determination
- Economics 8: Role of Price in Market System
- Economics 10: Role of Economic Institutions
Related Resources:
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