Government/ Economic Comp Check

What 3 economic questions are asked when studying the similarities of traditional, command, market, and mixed economies among nations of the world?

How do members of a traditional economy trade goods?

• Trading

• Embargo

• Bartering

• Quota

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

• Government makes all decisions

• Citizens makes all the decisions

• King makes all the decisions

Saudi Arabia specializes in the production of:

• camels and goats

• oil and natural gas

• olives and grapes

Give an example of a pure market economy

What type of economic system do most democratic countries have?

• Mixed

• Traditional

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

• Nigeria

• Saudi Arabia

• Turkey

• Israel

National Security and Immigration have been challenges to Israel’s economy?

• True

• False

Since Saudi Arabia became a nation in 1932, it has had 3 economic systems. What are they?

This nation has encouraged private businesses of power generation and natural gas exploration

• Israel

• Saudia Arabia

• Turkey