Voluntary Trade in the Middle East

Multiple Choice

What is it called when different countries choose to engage in the exchange of goods with one another?

• specialization

• GDP

• currency exchange

• voluntary trade

Multiple Choice

How does Specialization increases trade?

• a country can grow their military and increase their political power

• a country can get what it needs at the lowest cost when produced by someone who specializes in producing that item

• a country can get goods without having to compete with another country

• a country can trade with another country without having to actually use money

Multiple Choice

How does Specialization encourages trade among countries?

• because countries only trade the stuff that they don't really want or need.

• because it is cheaper and more efficient to just produce everything a country needs

• because countries don't need each other to make money

• because no country produces everything it needs

Multiple Choice

Saudi Arabia, Iran, Iraq, and Kuwait specialize in what product?

• oil

• diamonds

• agriculture

• technology

Multiple Choice

What product does Israel specialize in?

• oil

• diamonds

• agriculture

• technology

Multiple Choice

Which country has a more diversified economy and has developed important export industries in gold, coal, textiles, and automobiles

• Turkey

• Saudi Arabia

• Iraq

• Iran

Multiple Choice

Who is the world’s largest exporter of processed diamonds?

• Israel

• Turkey

• Saudi Arabia

• Switzerland

Multiple Choice

What are are natural or man-made obstacles to voluntary trade?

• trade barriers

• specialization

• voluntary trade

• embargo

Multiple Choice

Afghanistan is a landlocked country, so trade is difficult because it does not have ports to ship goods overseas. This is an example of

• specialization

• natural trade barrier

• political trade barrier

• voluntary trade

Multiple Choice

Which type of trade barrier involves adding a special tax on imported goods?

• Quota

• Tariff

• Embargo

• Specialization

Multiple Choice

Which type of trade barrier places limits on the amount of a goods that can be imported into a country?

• Quota

• Tariff

• Embargo

• Specialization

Multiple Choice

Which type of trade barrier allows a nation to refuse to trade with another country?

• Quota

• Tariff

• Embargo

• Specialization