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Economics of SW Asia Flashcards | StudBud
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Economics of SW Asia
Economics of SW Asia
30 terms
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#economics #southwestasia #socialstudies #7thgrade
Flashcards
30 cards
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Questions
30
Answers
1
Israel has not invested in:
farming and agriculture
communication
oil
defense
2
What is an entrepreneur?
someone who is always successful
someone willing to take a risk to begin a business
people who do not take risks
people like Mr. Hand who like to invest all their money
3
In a traditional economy, how are economic decisions made?
Consumers
Customs & Traditions
Government Leaders
Government Leaders AND Consumers
4
The economies of Israel, Saudi Arabia, and Turkey are:
Command
Traditional
Mixed
Market
5
In an autocracy __________.
no one is in charge
a few people are in charge
one person is in charge
everyone gets to vote
6
Saudi Arabia's economy can be represented by which letter on the graph?
Letter C
Letter A
Letter B
7
In a democracy___________.
no one is in charge
everyone gets to vote
a few people are in charge
one person is in charge
8
Which country is being described by the statements below?
Turkey
Israel
Saudi Arabia
9
A tax placed on goods coming into one country from another:
levy
embargo
tariff
quota
10
Which country is being described by the statements below?
Turkey
Saudi Arabia
Israel
11
A formal halt to trade with a particular country for economic or political reasons:
quota
embargo
levy
tariff
12
Why are oil and gas so valuable?
they are the only sources of energy around the world
they can easily be replaced
they are found in most countries
they serve as a valuable energy supply
13
Saudi Arabia specializes in:
oil and gas
olives and oranges
agricultural technologies
oil and sugar
14
Which country has the largest economy in SW Asia?
Letter B
Letter A
Letter C
15
Producing goods a country can make most efficiently is:
scarcity
importation
specialization
human capital
16
"The monarch is the head of state and has no real power" is only true in a/an:
presidential democracy
parliamentary democracy
autocracy
absolute monarchy
17
Most countries find they need their economy to operate somewhere between a __ and ___ economy.
Traditional and Mixed
Traditional and Command
Traditional and Market
Market and Command
18
Decisions made based on custom and habit
Traditional Economy
Mixed Economy
Market Economy
Command Economy
19
Which country is the most market-leaning of the three countries?
Letter B
Letter C
Letter A
20
Human Capital or Human Resources is:
taxes collected from workers
money paid to workers
skills and education
amount of goods sold in foreign trade
21
What does OPEC do?
refine oil
make sure non-member do not receive oil
regulate the price and supply of oil
mediate between Palestine and Israel
22
Which industry does Saudi Arabia control?
agriculture
textile manufacturing
oil
technology
23
Israel specializes in:
scientific technology
industrial technology
agricultural technology
medical technology
24
Based on Turkey's location on the Economic Continuum, it can best be described as:
Pure Command
Market-Leaning
Pure Market
Command-Leaning
25
Which country is being described by the statements below?
Saudi Arabia
Turkey
Israel
26
Which country has the highest amount of Government Regulation and control of the economy?
Letter C
Letter A
Letter B
27
Consumers and the market control this economy
Command
Mixed
Market
Traditional
28
A limit to the number or amount of a foreign-produced good that is allowed into the country:
tariff
quota
levy
embargo
29
How do Israeli's make-up for their lack of natural resources?
They refuse to import oil
They have strong technology companies
They put everyone to work
They rely on farming
30
Which statement accurately describes Israel, Saudi Arabia, and Turkey's economic systems?
Market
A mix of Market & Command
Traditional
Command