Economics
JAMB 2016
Which of the following can cause oil glut in the International market?
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A.
Excess demand over supply
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B.
Under- capacity utilization
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C.
Excess supply over demand
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D.
Economic boom
Correct Answer: Option C
Explanation
Oil glut is a Market situation where the supply of a good or service far exceeds its demand, usually resulting in a substantial fall in its price.
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