QUIZ: SW Asia Economy

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

• Turkey
• Saudi Arabia
• Israel
• Iran

What are the 3 economic questions that every country must answer? SELECT THREE (3).

• What to produce
• Cost of what's produced
• How to produce
• How much to produce
• For whom to produce

How do members of a traditional economy trade goods?

• Supply and demand
• Government makes all decisions
• Predetermined prices
• Bartering

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

• Based on customs, traditions, and beliefs of the past
• Based on changes in prices that occur as buyers and sellers interact in the market place
• Government makes all decisions

Most democratic countries' economies have characteristics of both command and market economies. What is this called?

What has been a challenge to Israel's economy? SELECT TWO (2)

• Immigration
• Diversified workforce
• Natural resources
• National security
• Private land ownership

What type of economic system do most democratic countries have?

• Traditional
• Command
• Market
• Mixed

Since 1932, Saudi Arabia has had 3 different economic systems. What is their current system?

• Command
• Traditional
• Mixed
• Market

What are Saudi Arabia' economic challenges? SELECT THREE (3).

• high unemployment
• unskilled native workforce
• immigration
• Diversification before oil reserves run out

What type of economic system is found in Turkey?

• Command
• Traditional
• Mixed
• Market