SW Asia Economics Review

If a country has a growing private sector but strict regulations to protect consumers. What type of economy do they have?

• Traditional

• Mixed

• Command

• Market

Which is a negative aspect of market economies?

• Production is usually inefficient

• Resources are unequally distributed.

• Consumers have few choices.

• It is difficult to start a new business.

How do command economies prioritize the interests of the various actors involved in the economy?

• The people are prioritized over the interests of the government

• Consumers are prioritized over the interests of private businesses.

• The government are prioritized over the interests of the people

• Private businesses are prioritized over the interests of consumers.

Why is investment in technology of great importance to the Israeli economy?

• The nation has vast reserves of oil that it is unable to access

• The nation is less developed than most other Southwest Asian nations

• The nation has a very low rate of literacy among its population

• The nation covers a small geographic area and lacks natural resources

Which answer choice BEST compares the economies of Israel, Saudi Arabia, and Turkey?

• Saudi Arabia has a larger private sector than Turkey and Israel.

• Turkey is more technologically advanced than Israel and Saudi Arabia.

• Turkey is more reliant on the production of oil than Saudi Arabia

• Israel has fewer obstacles to starting a business than Turkey and Saudi Arabia

Compared to Saudi Arabia, the Turkish economy features

• less government regulation and intervention.

• a larger dependence on petroleum revenue.

• a smaller dependence on agricultural revenue.

• more government regulation and intervention.

A country that allows supply and demand to determine economic choices, but also has regulations on what's produces has a ____ economy.

• Traditional

• Mixed

• Command

• Market

In order to strengthen its economy, the Saudi government has been pursuing economic policy goals encouraging

• collectivization

• diversification

• industrialization

• specialization

What type of economy do MOST Southwest Asian nations have?

• Traditional

• Command

• Market

• Mixed

Oil accounts for over 90% of all Saudi Arabian export activity. This means that Saudi Arabia has a high level of

• investment in human capital

• entrepreneurship

• investment in capital goods

• specialization