Question

use the list below to answer the question.
facts about venezuela in 2015

• main industry was oil
• oil prices had fallen
• had shortages of consumer goods
• government determined prices for goods
• had many labor regulations
• foreign companies decreased operations
• had limited access to foreign currency

based on the information, what contributed to economic problems in venezuela?
there were restrictions on how businesses could operate.
there were many ways to produce wealth.
there were high levels of exports.
there were high levels of savings.

Explanation:

Looking at the facts about Venezuela in 2015: having many labor regulations (which restricts business operations in terms of labor - related aspects), government - determined prices (restricts normal market - based price - setting for businesses), and limited access to foreign currency (can restrict business transactions, especially for imports and exports). These all point to restrictions on business operations.
The option “There were many ways to produce wealth” is incorrect as the main industry was oil and there were shortages. “There were high levels of exports” is wrong because foreign companies decreased operations and there were access issues. “There were high levels of savings” is not indicated in the facts.

Answer:

There were restrictions on how businesses could operate.