stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
SW Asia Middle East Economic Systems Flashcards | StudBud
Explore
/
SW Asia Middle East Economic Systems
SW Asia Middle East Economic Systems
21 terms
·
StudBud Administration
·
1 play
7th grade GA SOE
Flashcards
21 cards
F
Practice quiz
P
Host live
L
Questions
21
Answers
1
In 1932, when Saudi Arabia became a nation, its economy was mostly
mixed
command
traditional
free market
2
Today, Turkey is by far the largest economy in the Middle East, and it rates as
65% free market & 35% command
65% command & 35% free market
85% free market & 15% command
85% command & 15% free market
3
Large volumes of immigrants has affected Israel's economy in this way
financial burden
opportunities in racial equality and diversified business
increased oil production
aided Israel's economy in specialization of products
4
Important industries include mining, cutting/polishing diamonds, agriculture, & tech equipment
Turkey
Iran
Saudi Arabia
Israel
5
Which country has the most diversified economy in the Middle East?
Turkey
Israel
Saudi Arabia
Iran
6
Give an example of a pure market economy.
Turkey, USA, & Israel
Japan
Great Britain, Germany, & Cuba
There are none but the US is close
7
When oil was discovered, the Saudi royal family transformed the economy into mostly
a traditional economy
free market economy
mixed market with very little government control
command and profited greatly from oil wealth
8
Since Israel is a popular tourist destination, a high % of Israelis work in what industry?
manufacturing
service
automotive
mining
9
What type of economic system do most democratic countries have?
Mixed Economy
Traditional Economy
Market Economy
Command Economy
10
How has Turkey moved from a command economy to a mixed economy since the 1980s?
Turkey has become a pure market economy
Citizens are required to grow what they need to survive.
The government controls everything
Private enterprise is growing in agriculture & manufacturing
11
What type of economic system is found in Turkey?
Traditional
Mixed
Market
Command
12
How does a command economic system answer the three economic questions?
People make all of the decisions.
Government makes all of the decisions
Business owners decide what to make and sell
People and the government both make the decisions
13
What has been the challenge to Israel's economy?
Terrorism and technology
National security and immigration
Natural resources
Environmental Pollution
14
When Turkey became a country in 1923, its ruler Mustafa Kemal set up a
mixed market economy
market economy
command economy
traditional economy
15
Since its creation in 1948, Israel has been involved in much
inventions that would make farming easier
conflict with neighbors
conflict with the US
peace talks with Arab nations
16
Which of the following is NOT one of the three economic questions?
For whom to produce?
Where to produce?
What to produce?
How to produce?
17
How has Saudi Arabia set up private enterprise over the last 30 years?
Private companies have taken over all of the oil industry.
Allowed citizens to organize unions for fair trade.
They encouraged private ownership of power and natural gas
No privatization is allowed
18
High unemployment & diversifying its economy since oil supplies will run out are challenges of
Israel
Turkey
Iran
Saudi Arabia
19
Since Saudi Arabia became a nation in 1932, it has had which 3 economic systems in this order:
Mixed, Command, & now Traditional
Traditional, Command, & now Mixed
Command, Traditional, & now Mixed
Traditional, Mixed, & now Command
20
Most of Turkey's trade is with the Europe. Why has Turkey not joined the European Union (EU)?
European countries do not like products made in Turkey
Turkey does not like products made in European countries
Turkey is a developing nation & poor compared to EU nations
Turkey does not want to join the EU.
21
According to the Index of Economic Freedom, Israel is
70% free market & 30% command
50% traditional & 50% command
50% free market & 50% command
70% command & 30% free market