Below are four international economic institutions alongside four primary organizational functions. Match each organization on the left with its corresponding primary function on the right.
- OPECCoordinating oil supply quotas to stabilize international crude petroleum prices
- IMFProviding short-term financial assistance to member nations facing balance-of-payments deficits
- World BankFinancing long-term capital and infrastructure development projects in developing countries
- ECOWASPromoting economic cooperation, free trade, and mobility across West African member states
Answer
OPEC matches with coordinating oil supply quotas; IMF matches with providing short-term balance-of-payments assistance; World Bank matches with financing long-term capital and infrastructure projects; ECOWAS matches with promoting West African regional economic integration.
Each international institution is correctly aligned with its official primary mandate: OPEC manages crude oil production policies; the IMF resolves short-term balance-of-payments deficits; the World Bank finances long-term development infrastructure; and ECOWAS drives regional economic integration across West Africa.
Step-by-Step Solution
Key Concept
Primary Mandates of International Economic Organizations and Regional Integration Blocs