SW Asian Economics Comprehension Check

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

• What to produce?

• How to produce?

• When to produce?

• For whom to produce?

How do members of a traditional economy trade goods?

• They use currency

• They barter

• They make everything themselves without trading

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

• Government makes all decisions

• Individuals make all the decisions

• Supply and Demand makes the decisions

• There is a mixture of government and individuals making the decisions.

What type of economic system do most democratic countries have?

• market

• mixed

• traditional

• command

Which country has the most diversified economy in the Middle East?

• Israel

• Turkey

• Saudi Arabia

Since Saudi Arabia has become a nation in 1932, it has had 3 economic systems. Choose all 3.

• market

• mixed

• traditional

• command

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

• Private enterprise is growing in technology and tourism.

• Private enterprise is growing in power generation and natural gas exploration.

• Private enterprise is growing in agriculture, textiles, and manufacturing.

What economic challenges is Saudi Arabia facing? Choose 3.

• Diversifying economy because oil supplies will run out

• national security

• high unemployment

• unskilled native workforce

• conflict with neighbors

What type of economic system does Turkey have?

• mixed

• market

• command

• traditional

How has Turkey moved from a command economy to a mixed economy since the 1980s?

• Private enterprise is growing in technology and tourism.

• Private enterprise is growing in power generation and natural gas exploration.

• Private enterprise is growing in agriculture, textiles, and manufacturing.