Factors That Influence the Economy

Which of the following describes the standard of living?

• trade Barriers limited material comforts from entering the nation

• A Union of workers demanding for improved rights

• A nation watching for new comforts to become available

• money and material comforts available to citizen within their country

This middle eastern country has the lowest (GDP) gross domestic product

• Israel

• Turkey

• Saudi Arabia

• Afghanistan

Which of the following countries probably has the highest standard of living based on the literacy rate?

• Turkey

• Israel

• Saudi Arabia

• Iran

When being exported (goods shipped out of the country), this productive resource can be used as a source of income.

• Entrepreneurship

• Capital Goods

• Human Capital

• Natural resources

Which sector of the economy can you place entrepreneurship?

• Public

• Private

• Military

• Partnership

Entrepreneurship is easy in ALL countries in the Middle East. Check True or False

• True

• False

Human capital does not impact a nation’s GDP. Check True or False

• True

• False

A nation with a high GDP typically does not invest in human capital, while a nation with a low GDP does invest in human capital. Check True or False

• True

• False

How would you describe Saudi Arabia's literacy rate?

• High with high standard of living

• High, but low standard of living

• Low, but high employment

What typically happens to the standard of living in a country with low literacy rates?

• The economy is booming.

• The jobs are plentiful.

• Everyone is rich.

• There is a low standard of living.