SW Asia Economies

Which is true about a traditional economy?

• You could pick any job you wanted

• You did whatever job your parents did

• You become a farmer

Which is true about a mixed economy?

• The government has total control

• Private businesses have total control

• Both the government and private businesses make decisions

Which of these countries have the most economic freedom?

• Saudi Arabia

• Iran

• Turkey

• Israel

Which of these countries have the least economic freedom

• Israel

• Turkey

• Saudi Arabia

What is it called when a country mainly makes one thing

• Tariffs

• Specialization

• Entrepreneurship

• Quotas

Investing in technology and service industries leads to ______

• A higher standard of living

• A lower standard of living

A country that refuses to trade with another country is called a______

• embargo

• subsidy

• tariff

• quota

What is an exchange rate?

• Changing one country's money to another

• The process of exporting goods

• The process of importing goods

• Trading without money

Do exchange rates ever exist within one country entirely?

• Yes they do

• No they do not

Which country invests the most in human capital

• Iran

• Israel

• Turkey

• Saudi Arabia