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SW Asia Economy

Authored by Olivia Hicks

Social Studies

7th Grade

Used 6+ times

SW Asia Economy
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18 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

What are the 3 basic economic questions that all economic systems must answer?

What to produce, how to produce it, and for whom to produce the goods
When to produce, why to produce, and how long to produce
To what extent to produce, how much to produce, why to produce
What to produce, why to produce, and how much to produce

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which industry does Saudi Arabia's government specialize in?

Oil
technology
agriculture
textile manufacturing

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

In a market economy, who makes the economic decisions?

subsistence farmers (grow just enough to feed family)
custom and habit (do what ancestors did)
government planners (public control)
people (productions based on supply and demand)

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

If a country does not invest in its human capital, how can it affect the country's gross domestic product (GDP)?

Investment in human capital has little effect on the GDP.
Most workers want to keep their jobs and do not care about the GDP.
GDP is only affected if workers pay for the investment out of their own pocket.
GDP may go down because poorly trained workers will not be able to do their jobs well.

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In this economy, manufacturers of automobiles control the number of vehicles produced each month in an effort to avoid surpluses that would minimize their profits.

Big Wheels economy
Market economy
Command economy
Traditional economy

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

In this economy, the government produces its signature brand of shoe-flavored chips and determines that it will be sold in all stores for $1.25 per bag. Which type of economy is this?

Traditional Economy
Market Economy
Mixed Economy
Command Economy

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which economy is family/agricultural based?

traditional

market

mixed

command

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