Economics-Middle East

In a  a market economy, who makes the economic decisions?

• farmers
• custom and habit
• government planners
• consumers and the market

In a traditional economy, how are economic decisions made?

• custom and habit
• government planners
• consumers and the market
• combination of consumers and government planners

 In a command economy, how are economic decisions

• custom and habit
• government planners
• consumers and the market
• combination of consumers and governments planners

Which would be problem in a command in economy?

• individuals trying to start a new business
• wokers forced to do jobs they did not care to do
• local crafts produced before manufactured goods
• government planners set prices for goods produced

In a market economy, who makes the economic decisions

• farmers
• custom and habit
• government planners
• combination of government planners and individual investors

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

• consumers
• government planners
• individual business people
• combination of government planners and individual investors

Why are most modern economies referred to as mixed economies?

• Poverty is always highest in countries with market economies
• Government planneres do not know how to handle economic problems
• Products made by traditional economies have no markets in the modern world
• Most countries have all aspects of three economic types at work their economies

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

• Most consumers want government control of the economy
• Goverment control makes a market economy more profitable 
• Goverment control of some aspects of the economy has never been successful in the modern world
• Most economies have found they need a mix of free market and some government control to be success and protect consumers

The economies of Israel, Saudi Arabia, Turkey, and Iran could best be described

• mixed
• market
• command
• traditional

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

• They have put everyone to work and have no unemployment
• they have relied primarily on farming to keep their economy going
• They have deverloped strong technology companies in their economy
• Israelis have refused to import oil,saving huge amounts of money each year