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SWA Economics

SWA Economics

Assessment

Presentation

Social Studies

7th Grade

Practice Problem

Hard

Created by

John Dye

Used 48+ times

FREE Resource

21 Slides • 18 Questions

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SWA Economics

by John Dye

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media

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Multiple Choice

What 3 economic questions are asked when studying the similarities of traditional, command, market, and mixed economies among nations of the world?

1

What to produce, why to produce, when to produce?

2

What is your opportunity cost, what economic resources are needed, why should these resources be used?

3

What to produce, how to produce, and for whom to produce?

4

What is your opportunity cost, why are economic resources needed, when should these resources be used?

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Multiple Choice

In a traditional economy, how are economic decisions made?

1

A mix of consumers and government leaders

2

Customs and traditions

3

Consumers

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Government leaders

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Multiple Choice

In a command economy, Who makes all the decisions?

1

A mix of consumers and government leaders

2

Customs and traditions

3

Consumers

4

Government leaders

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Multiple Choice

In a market economy, Who makes all the decisions?

1

Government leaders

2

Consumers

3

Customs and Traditions

4

A mix of consumers and government leaders

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Multiple Choice

If there are no purely market or purely command economies, what is the term for most countries economies?

1

Combined

2

Blended

3

Mixed

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Multiple Choice

What percentage of free and command is Israel's economy?

1

70% Free/30% Command

2

40% Free/60% Command

3

50% Free/50% Command

4

60% Free/40% Command

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Multiple Choice

Which of the following would reflect Israel’s mixed economy?

1

Economic decisions are based on customs and beliefs of ancestors.

2

The country’s distribution of resources is based on inheritance.

3

Prices and wages are solely regulated by the country’s government.

4

A combination of privately-owned businesses and government regulations.

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Multiple Choice

Because Israel is a tourist destination, What industry would a high number of Israel's population work in?

1

Farming

2

Service

3

Mining

4

Technology

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Multiple Choice

Having to build up what government group has created a strain on Israel's economy?

1

Armed Forces/National Security

2

Secret Service

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Land Services

4

Forrest Rangers

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Multiple Choice

Finding what natural resource in 1932, changed Saudi Arabia's economy from a traditional to a command economy?

1

Gold

2

Silver

3

Oil

4

Water

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Multiple Choice

Saudi Arabia's modern economy has moved to a mixed economy, with what percentages of free/command?

1

66/34

2

68/32

3

64/36

4

65/35

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Multiple Choice

Saudi Arabia has started selling shares of what industry to the public?

1

Technology

2

National Defense

3

Oil/Petroleum

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Education

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Multiple Choice

Private companies in Saudi Arabia still make few decisions about what?

1

Price/Production

2

Location

3

Cost

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Multiple Choice

Oil accounts for what percentage of Saudi Arabia's national income?

1

50%

2

65%

3

70%

4

75%

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Multiple Choice

When Turkey's economy was started in 1923, what type of economy did it have?

1

Market

2

Command

3

Traditional

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Multiple Choice

Turkey now has a mixed economy, what is the percentage of free/command?

1

65/35

2

60/40

3

55/45

4

70/30

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Multiple Choice

Even with a mixed economy, The Turkish government stills sets the price on what industry?

1

Gas

2

Technology

3

Electricity

4

Transportation

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Multiple Choice

What organization has Turkey been trying to join?

1

United Nation

2

OPEC

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NATO

4

European Union

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SWA Economics

by John Dye

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