SW Asia Economics

Bach lives in a country where all factors of production are run my the government. What type of economy is this?

• Command

• Mixed

• Market

• Traditional

In which of the following SW Asian countries would it be easiest for an entrepreneur to start their own business?

• Iran

• Israel

• Saudi Arabia

• Turkey

Jacob owns a business making shoes. He decides how many shoes are produced each week and he also decides the price. What type of economy is described here?

• Command

• Market

• Traditional

• Subsistance

Which of the following countries have to invest in human capital and capital goods because of their lack of oil?

• Israel

• Saudi Arabia

• Iran

• Turkey

Which of the following is an example of human capital?

• A machine

• Roads and highways

• Money

• Education and training

If the country of Saudi Arabia is experiencing a conflict, how might that impact economies of countries around the world?

• Countries around the world get most of their agricultural products from Saudi Arabia

• Saudi Arabia is one of the leading suppliers of oil in the world.

• Political leaders in SW Asia have refused to trade when they are unstable.

President Rodrigo want to increase his country's GDP. What could he do to make this happen?

• Stop trade with other countries

• Close all small businesses

• Invest in education and training of employees

• Refuse to update any factories

Which is an example of infrastructure?

• Trees

• Water

• Education

• Highway

Which is an example of a capital good?

• Factories

• Education

• Healthcare

• Job Training

If a country has a high literacy rate, high life expectancy and a high GDP, they probably have a high ______.

• Supply of oil

• Command economy.

• Standard of living

• Zionist movement.