Economy of SWAME SS7E5,SS7E6,& SS7E7

How has the Saudi king used the profits from oil to help other areas of his kingdom?

SWAME's most important and valuable natural resources is

It protects local manufacturers from competition coming into a country

What happens to the price of oil when OPEC countries decide to limit/decrease production?

The United States about how much of its oil imported every day

Most economic decisions made are based on custom and habit in this economy

What is a french term which means to allow them to do as they please?

Factories, machines, and technology people used to make goods are called

A society's economic decisions are made by consumers and the market

Why do most economies operate between a market and a command?

Why would the Saudi oil industry need a large investment in human capital?

Who takes on the financial risk in starting a new business in a market economy?

Iran and Saudi Arabia benefit from belonging to OPEC because OPEC keeps the price of oil 

A formal halt to trade with a particular country for economic or political reasons

Has characteristics of both market and command economic systems

Anything that slows down or prevents one country from exchanging goods

Why was OPEC created?

How have the Israelis made up for their lack of natural resources?

A tax placed on good coming into a country

How has Israel's lack of oil affected that country's economy?

A limit to the number or amount of a foreign-produced good that is allowed into the country

The skills, knowledge, and education workers have to earn a living producing goods or services

What happens to the price of oil when OPEC countries decide to increase production?

One of Iran's biggest problems with their state-run oil industry is

The amount of goods and services produced divided by the total production per person

Israel has invest heavily in capital goods in all of the following EXCEPT.....

Why have Israelis made a big investment in human capital

What ask answers what to produce, how to produce, for whom to produce?

When a country invests in its human capital, the GDP is 

The total value of all goods and services produced within a country in a single year

Who are creative, original thinkers who are willing to take risks to create new business?

Where are most of the OPEC countries located?

Why is it important for nations to have a system to convert from one currency to another?

The process of producing goods which you make most efficiently (best)

Which country is not located in Southwest Asia?

Why are oil and gas such valuable natural resources?

Why are most modern economies referred to as mixed economies?

What type of economy does Israel, Saudi Arabia, Turkey, and Iran has?

Capitalism, free enterprise, and laissez-faire are other names for which economy

Israel specializes in

When a country does not invests in its human capital, the GDP is 

Which industry does the government of Saudi Arabia heavily control?

How has the Saudi government used its national wealth to change the country?

Saudi Arabia specializes in the production of 

More centralized economy where the government planners make most of the decisions