SW Asia Political & Economic Systems Test

How do Traditional Economies trade goods?

• Currency

• Bartering

• Currency Exchange

• They don't

Who/What makes the economic decisions in a command economy?

• Private investment

• The past

• Government

• Both government and private investment

What type of economic system do most democratic countries have?

• Maket

• Command

• Traditional

• Mixed

What country has the MOST diversified economy in the Middle east?

• Israel

• Turkey

• Saudi Arabia

• Kuwait

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

• Traditional, then Command, now Mixed

• Market, then Traditional, now Command

• Command, then Mixed, now Traditional

• Mixed, then Market, now Command

All of the following describe how Saudi Arabia has set up private enterprise over the last 30 years EXCEPT...

• Sold shares to the oil industry

• Private ownership of power generation

• Private ownership of Natural Gas Exploration

• Government has not allowed any private investment

What economic challenge is Saudi Arabia facing?

• Difficult time diversifying their economy from the oil industry because the oil will run dry

• Being able to withstand the volume of immigrants into the country

• High Unemployment Rate

• Unskilled native workforce

Who/What makes the decisions in a Market economy?

• The Government

• The Past

• The People

• Both the People and the Government

Who/What makes the decisions in a Traditional Economy?

• The Government

• The Past

• The People

• Both the past and the Government

What type of economic system does Turkey have?

• Mixed

• Market

• Traditional

• Command