Economy of SWASIA SS7E5,SS7E6,& SS7E7

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

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

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

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

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

Why have Israelis made a big investment in human capital

Why was OPEC created?

Saudi Arabia specializes in the production of 

It protects local manufacturers from competition coming into a country

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

Anything that slows down or prevents one country from exchanging goods

Which industry does the government of Saudi Arabia heavily control?

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

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

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

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

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

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

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

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

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

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

Has characteristics of both market and command economic systems

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

PPP or per Capita is calculated how?

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

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

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

A tax placed on good coming into a country

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

Why are oil and gas such valuable natural resources?

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

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

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

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

Which country is not located in Southwest Asia?

Where are most of the OPEC countries located?