SW Asia Government and Economics

What is the definition of OPEC?

• Oil and Petroleum Exporting Countries

• Organization of the Petroleum Exporting Countries

What is a fixed share, fixed minimum, or limited amount of a product ?

• Question

• Quest

• Quota

• Quotation

What is an official ban on trade or on a product?

• Tax

• Tariff

• Quota

• Embargo

What is a government-imposed restraint on the flow of international goods or services?

• Barrier Reef

• Trade Embargo

• Physical Trade Barrier

• Tariff

Who is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards?

• Philanthropist

• Entrepreneur

• A person who seeks other people to help them invest and share most of the rewards.

• Humanitarian

What is the percentage of people who can read and write?

• Birth Rate

• Reading Rate

• Reading and Writing Rate

• Literacy Rate

What are goods that are used to produce other goods instead of being bought by consumers?

• Dry Goods

• Capital Goods

• Capitol Goods

• Human Capital

What is the minimum level of living that is expected by a person in their life, or in a community, and the amount of money or wealth that they have created?

• Standard of Living

• Quality of Life

• Employment Rate

• Gross Domestic Product

What is the total value of all the finished goods and services produced within a country?

• GDP - Gross Domestic Product

• OPEC

• Human Capital

• Capital Goods

What is the process wherein a company or individual decides to focus their labor on a specific type of production?

• Specialization

• Special Order

• Market Economy

• Mixed Economy