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