Unit 3 - Middle East Government & Econ.

Front

Which country has managed to raise their standard of living through education, healthcare, and technology despite having limited oil resources? Options: Turkey, Israel, Saudi Arabia

Back

Israel

Front

Someone that takes risks and opens his or her own business.

Back

Entrepreneur

Front

In a command economy, how are economic decisions made?

Back

Government planners

Front

Which would be a problem for a country with a traditional economy?

Back

People need things and are unable to barter to obtain them.

Front

Why do most economies today operate somewhere between a market economy and a command economy?

Back

Most economies have found they need a mix of free markets and some government control to be successful.

Front

People in a traditional economy will use _________ to obtain goods.

Back

Bartering

Front

A mixed economy is a combination of which two? Traditional & command, Command & market, Market & Traditional, None of the above

Back

Command & market

Front

In a market economy, how are economic decisions made? Options: Government planners & customs, Custom and habit., Government planners, Buyers & sellers

Back

Buyers & sellers

Front

Anything that slows down or prevents one country from exchanging goods with another

Back

trade barrier

Front

Total market value of all goods and services produced in a country in a given year

Back

GDP