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MNE 201 Exam Questions and Answers Rated 100%

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MNE 201 Exam Questions and Answers Rated 100% Technological substitution - Answers Substitution of technology for different mining techniques Autarky - Answers a situation in which a country does not trade with other countries Nationalization - Answers Changing something from private to state o...

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  • October 24, 2024
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MNE 201 Exam Questions and Answers Rated 100%

Technological substitution - Answers Substitution of technology for different mining techniques

Autarky - Answers a situation in which a country does not trade with other countries

Nationalization - Answers Changing something from private to state ownership or control

Seven Sisters - Answers The seven major western oil companies of the twentieth century that until the
1970s controlled most of the production and distribution of Middle East oil.

OPEC - Answers An organization of countries formed in 1961 to agree on a common policy for the
production and sale of petroleum.

Cartel - Answers a group of independent market participants who collude with each other in order to
improve their profits and dominate the market

Oil Crisis - Answers Economic crisis of 1973 that occurred when OPEC nations refused to export oil to
Western nations

Semiconductor - Answers an element or compound that conducts electric current better than an
insulator does but not as well as a conductor does

Artisanal mining - Answers small-scale mining, usually done by hand

Resource curse - Answers the difficulties faced by resource-rich developing countries, including
dependence on exporting one or a few commodities whose prices fluctuate, as well as potential for
corruption and inequality

Fracking - Answers The pumping of water at high pressure to break apart rocks in order to release
natural gas

Peak oil - Answers The point at which half the total known oil supply is used up

Geothermal gradient - Answers the gradual increase in temperature with depth in the crust

Life cycle assessment - Answers Analysis of environmental impacts of products from the design stage
through end-of-life.

Sankey diagram - Answers A diagram showing energy transfers, where the width of each arrow is
proportional to the amount of energy it represents.

Resource exhaustion - Answers deposits of raw mineral materials (copper, zinc, etc.) will be exhausted
within a few decades

Mineralogical barrier - Answers the elevated cost or increase in energy required to mine metals from
silicates instead of other mineral families.

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