y do individual voters have more power n a democracy than n an autocracy or an oligarchy?

The voters get to choose the people who make the laws

In a presidential system of government, how is a president chosen?

in a separate vote from the one that chooses the legislature

What is human capital?

skills and education workers have

imit to the number or amount of a foreignproducedgood

Why do most economies n the world today operate somewhere in b/w market & command economy?

Most economies have found they need a mix of economy types

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

possible 2 buy&sell goods b/w nations w/ diff types of $

Why was OPEC created?

regulate the supply and price of oil

Why are most modern economies referred to as mixed economies?

Most countries have aspects of 3 economic types

What is “economic specialization”?

producing those goods a country can make most efficiently

formal halt to trade with a particular country

tax placed on goods coming into one country from another

How long does a monarch rule?

until he dies or chooses to give up power

What is the definition of a “theocracy”?

a government that sees God as the supreme ruler

What are capital goods?

the factories and machines used to make goods

Why are oil and gas such valuable natural resources?

Industrial countries depend on oil&gas as their energy

Who makes most of the important governmental decisions in an oligarchy?

small group of powerful leaders

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

Israeli economy depends on technology

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

They have developed strong technology companies n their econ

What is an entrepreneur?

someone who is willing to take a risk 2 begin a new business

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SW Asia Gov't Econ Test Review

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Questions 40

Answers

1
Where are most of the OPEC countries located?
Southwest Asia
North America
Africa
South America
2
y do individual voters have more power n a democracy than n an autocracy or an oligarchy?
Voters n democraticcountries always choose qualified leaders
Kings are always cruel rulers.
All of the power stays in the hands of the local governments
The voters get to choose the people who make the laws
3
The Israeli parliament is called the
Knesset
Senate
Congress
House of Representatives
4
In a command economy, how are economic decisions made?
custom and habit
consumers and the market
government planners
combination of consumers and government planners
5
In a presidential system of government, how is a president chosen?
by a majority vote of the legislature
by the political party with the most representatives
in a separate vote from the one that chooses the legislature
by a decision of the national courts
6
Saudi Arabia specializes in the production of
oil and gas.
oil and sugar.
olive and orange.
beef and chicken.
7
What is human capital?
taxes collected from a country’s workers
the amount of goods sold in foreign trade in a year
skills and education workers have
money paid to workers for producing goods
8
Saudi Arabia is ruled by a
king.
popularly elected president.
representative government.
group of leading religious leaders.
9
What is a quota?
imit to the number or amount of a foreignproducedgood
tax placed on goods when they r purchased n the market place
tax placed on imported goods when they enter the country
decision to prevent certain goods from being imported
10
Why do most economies n the world today operate somewhere in b/w market & command economy?
Most economies have found they need a mix of economy types
Government control makes a market economy more profitable.
Govt control of some aspects of the economy r not successful
Most consumers want government control of the economy.
11
Which type of government is described in the passage?
unitary
parliamentary
federation
confederation
12
Which branch of government makes & carries out laws in a parliamentary system of government?
judicial
legislative
executive
the monarch
13
The leader of a parliamentary system is often called the
king.
prime minister
governor
president
14
In a confederation government system, most of the power is in the hands of the
legislature.
local governments.
individual voters.
central government
15
Who makes most of the important governmental decisions in an autocracy?
the court system
the people
the ruler
the elected legislature
16
Which industry does the government of Saudi Arabia heavily control?
oil
textile manufacturing
agricultural
technology
17
Why is it important for nations to have a system to convert from one currency to another?
Converting to different currencies makes goods cost less
The dollar is the most valuable currency in the world today.
Banks are not able to handle different kinds of currencies.
possible 2 buy&sell goods b/w nations w/ diff types of $
18
In a market economy, who makes the economic decisions?
custom and habit
consumers and the market
farmers
government planners
19
Why was OPEC created?
keep countries that are not members from producing any oil
help the Palestinians in their problems with Israel
regulate the supply and price of oil
design new machinery to get oil out of the ground
20
Why are most modern economies referred to as mixed economies?
Most countries have aspects of 3 economic types
Products made by traditional economies have no markets now
Gov't planners do not know how to handle economic problems.
Poverty is always highest in countries with market economies
21
How does the Guardian Council affect elections?
they approve candidates
the mullahs and lawyers must agree on the Supreme Leader
cant affect elections since they are appointed by the Majles
the mullahs tell people who to vote for
22
Which BEST describes the government of Saudi Arabia?
dictatorship
oligarchy
democracy
monarchy
23
Israel specializes in
industrial technologies
scientific technologies.
medical technologies.
agricultural technologies
24
What is “economic specialization”?
trying2 avoid investing n industry &tech bc of the$ involved
producing all goods and services needed 4 a country’s growth
producing those goods a country can make most efficiently
swapping goods from 1 country 2 another w/o having to use $
25
What is an embargo?
tax placed on goods coming into the country from overseas
formal halt to trade with a particular country
limit to the amount of a certain good allowed n2 the country
a tax paid by the producer b4 he can sell his goods
26
Who takes on the financial risk in starting a new business in a market economy?
individual business people
government planners
consumers
combination of government planners and individual investors
27
What is a tariff?
tax paid when goods r shipped from 1 state2 another n the US
tax placed on goods coming into one country from another
tax placed on goods made by local craftsmen or manufacturers
tax paid by the purchaser when goods are sold
28
In a traditional economy, how are economic decisions made?
custom and habit
combination of consumers and government planners
consumers and the market
government planners
29
In a unitary government system, most of the power is in the hands of the
central government.
individual voters
local governments.
king and advisors.
30
How long does a monarch rule?
a term of ten years
until he dies or chooses to give up power
as long as parliament allows him to rule
one elected term
31
What is the definition of a “theocracy”?
a system in which religious law and civil law are separate
a government that allows the people to choose the leaders
a system in which only religious leaders are allowed to vote
a government that sees God as the supreme ruler
32
What are capital goods?
the money spent to train workers to use new technology
goods and services that are produced for a country’s economy
the workers who make the goods and services
the factories and machines used to make goods
33
Why are oil and gas such valuable natural resources?
Oil & gas r the only sources of energy used around the world
Industrial countries depend on oil&gas as their energy
easy to replace oil and gas supplies after they are used
Large deposits of oil and gas are found in most countries
34
Who makes most of the important governmental decisions in an oligarchy?
the legislature
the people
the king
small group of powerful leaders
35
How has Israel’s lack of oil affected that country’s economy?
Israeli businesses use little oil to operate
Israeli economy is built around largescalefarming
Israeli economy depends on technology
Israel has little industry dues to their lack of oil
36
How have the Israelis made up for their lack of natural resources?
They have relied mostly on farming 2 keep their economy goin
They have put everyone to work and have no unemployment
They have developed strong technology companies n their econ
Israelis have refused to import oil
37
The economies of Israel, Saudi Arabia, Turkey and Iran could best be described as
market
mixed
traditional
command
38
What is an entrepreneur?
business people who try not to take risks with their money
someone who is willing to take a risk 2 begin a new business
people who enjoy saving all their money
someone who is always successful in whatever he attempts
39
Who is the most powerful elected official in Iran?
electorate
Supreme Leader
head of the judiciary
president
40
What happens to the price of oil when OPEC countries decide to limit production?
prices rise
prices stay the same
oil stops being sold
prices drop

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