SW Asia Economies Test Review

In Abdul's country the government makes most of the economic decisions and consumer choice and entrepreneurship is limited. The economic system in Abdul's country is most likely

• A. traditional.

• B. command.

• C. market.

• D. pure.

Which factor or factors account for the Israeli economy being among the most developed in all of Southwest Asia?

• A. a rich diversity of plant and animal species

• B. fertile soil and extensive areas of farmland

• a strong financial sector and investments in technology

• D. access to large amounts of valuable petroleum resources

What is the biggest factor or factors affecting the answers to these questions in a command economy?

• A. popular votes

• B. custom and habit

• C. supply and demand

• D. government planning

What is the biggest factor or factors affecting the answers to these questions in a market economy?

• A. popular votes

• B. custom and habit

• C. supply and demand

• D. government planning

What is the biggest factor or factors affecting the answers to these questions in a traditional economy?

• A. popular votes

• B. custom and habit

• C. supply and demand

• D. government planning

In which type of economy are producers LEAST LIKELY to produce a surplus of goods?

• A. a command economy

• B. a market economy

• C. a mixed economy

• D. a traditional economy

In which type of economy is the government MOST LIKELY to set production quotas for certain goods?

• A. a command economy

• B. a market economy

• C. a mixed economy

• D. a traditional economy

Generally, "mixed economy" means an economy that

• A. has both command and market elements.

• B. relies on the use of currency as well as bartering.

• C. relies only on supply and demand to determine production.

• D. has a large industrial sector and a large agricultural sector.

Where would most Southwest Asian nations fit on the continuum?

• near point I

• between points I and II

• between points II and III

• near point IV

Which industry is MOST important to the Saudi Arabian economy?

• A. the oil industry

• B. the steel industry

• C. the agricultural industry

• D. the tourism industry