Economy of SWAME SS7E5,SS7E6,& SS7E7

Who takes on the financial risk in starting a new business in a market economy?

Why are most modern economies referred to as mixed economies?

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

Why would the Saudi oil industry need a large investment in human capital?

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

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

Has characteristics of both market and command economic systems

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

SWAME's most important and valuable natural resources is

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

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

How has the Saudi king used the profits from oil to help other areas of his kingdom?

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

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

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

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

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

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

Why are oil and gas such valuable natural resources?

Israel specializes in

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

Anything that slows down or prevents one country from exchanging goods

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

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

Saudi Arabia specializes in the production of 

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

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

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

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

Where are most of the OPEC countries located?

Why have Israelis made a big investment in human capital

Which country is not located in Southwest Asia?

A tax placed on good coming into a country

It protects local manufacturers from competition coming into a country

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

Which industry does the government of Saudi Arabia heavily control?

Who are creative, original thinkers who are willing to take risks to create new business?

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

What ask answers what to produce, how to produce, for whom to produce?

Why was OPEC created?

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

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

How has the Saudi government used its national wealth to change the country?

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

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