Economies of the Middle East

_____ is the type of money a country used.

the factories, tools, and machinery used are called _____.

Which describes entrepreneurship?

_____are things that come from the land like minerals and trees.

value of all the goods and services produced by a country within a year’s time period

In1960, five oil-rich companies formed an organization called _____.

Education, skills, and training the workers have(workers/labor)

primary function of the Organization of Petroleum Exporting Countries (OPEC)?

A(n)_____ is a person who risks time and money to start a business.

Iran invested billions dollars in educ and training, how would their GDP likely be affected?

Saudi Arabia has significant gov control over many industries, what economic system do they hav

People who perform the labor are called

Who takes a financial risk starting a new business?

Which describes how MOST countries around the world answer basic economic questions?

In a command economy, how are economic decisions made?

Which is a major similarity between the economies of Saudi Arabia and Iran?

1.     A _____ is a tax on imported goods which causes the consumer to pay a higher price.

A(n)_____ forbids trade with another country, usually due to political differences.

How are economic decisions made in a traditional economy?

 companies, countries focus on a limited range of production tasks that they do best.

A_____ is a limit or restriction on the amount of a good that can be imported into a country.

Primary cause of S.A. economic development sine the 1960s is

Which would be a problem in a command economy?

What are the 3 basic econ. questions?