Read the selection and discuss the questions that follow. AYALA CORPORATION’S 180 YEARS OF SUCCESS

In 2014, Ayala Corporation celebrated its 180th year in the business industry. Starting from a wine distillery

business in a rural town back in 1834, it has evolved into one of the largest business conglomerates in the

Philippines.

The last few years have seen great economic changes which has given the company positive economic

momentum in its pursuit of an aggressive growth strategy, venturing into various business ventures and

establishing several companies in various industries and sectors. This has paid off since Ayala reached the P430

billion mark of net earnings in 2014. This milestone was made more significant considering the company’s

anniversary that year. By the end of 2014, the Ayala family was hailed by Forbes as the 9th richest family in the

Philippines.

The monumental successes that the Ayalas have b

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.