SS INB Quiz SS7E4

What are the three economic questions that every country must answer?

• What to produce? How to produce? For whom to produce?

• What location? What color? What size?

• What recipe? Where are the ingredients? Who to make it for?

• What is the name of my product? Where am I selling it? When will it be finished?

How do members of a traditional economy trade goods?

• selling things on amazon

• trading the items on ebay

• trading items on Saturdays at the grocery store with their friends and family

• bartering or trading items they have with people who have items they need

How does a command economic system answer the three economic questions?

• Letting the citizens take a vote on election day

• Government makes all the decisions

• A small group of wealthy individuals make the decisions

• Ask the president what he thinks

Which one of the following is an example of a pure market economy?

• North Korea

• There are no 100% pure market economies

• Cuba

• All western European countries

What type of economic system do most democratic countries have?

• command

• market

• traditional

• mixed

Which country has the most diversified economy in the middle east?

• Syria

• Israel

• Turkey

• Saudi Arabia

What has been a challenge to Israel's economy?

• national security and immigration

• printing more currency

• ISIS and Hamas

• West Bank firing rockets

Since Saudi Arabia became a nation in 1932, it has had 3 economic systems. What are they in order from oldest to newest?

• command, mixed, traditional

• mixed, traditional, command

• traditional, command, mixed

• command, traditional, mixed

How has Saudi Arabia set up private enterprise over the last 30 years?

• The prince said he would allow it so it has taken place

• The government has encouraged private ownership of power generation and natural gas exploration

• The government hired scientists to help start businesses in Saudi Arabia

• The government was tired of using the barter system in Saudi Arabia

What economic challenges is Saudi Arabia facing?

• Shar'ia Law, Muslims, and their economy suffering form lack of oil

• Allowing women to drive, desalination plants, and having enough food to feed their people

• Water shortages, food shortages, and poor people taking over the cities in Saudi Arabia

• Diversifying the economy because oil supplies will run out, high unemployment, and unskilled native workforce