Question

which situation resulted from the opec oil embargo of 1973? a. oil shortages and rising prices b. oil shortages and falling prices c. oil surpluses and rising prices d. oil surpluses and falling prices

Explanation:

The 1973 OPEC oil embargo involved a reduction in oil supply to targeted nations. When supply of a critical resource like oil decreases while demand remains high, shortages occur, and market forces drive prices upward.

Answer:

A. oil shortages and rising prices