Module 4 Economics in the Middle East (7th grade World Studies)

Companies that invest in the education of their employees generally experience which of the following?

• a decrease in overall profits

• an increase in employee turnover

• an increase in worker productivity

• a decrease in international investments

Use the table to answer the question. What conclusion can be reasonably drawn based on the information in the table?

• Turkey most likely has a high standard of living.

• Turkey most likely has a low level of export activity.

• Turkey most likely invests a lot in capital goods.

• Turkey most likely has a low gross domestic product.

People who own and operate a business, and accept the risk of that business failing, are

• consumers.

• employees.

• entrepreneurs.

• lenders.

The unequal distribution of oil in Southwest Asia has contributed to which of the following?

• significant foreign investment in nations lacking oil supplies

• the declining influence of regional trade organizations in the region

• the creation of an economic free trade zone to encourage development

• violent conflicts between nations over access to and control over oil reserves

What connection can be made between a nation's literacy rate and its economy?

• Literate people are less economically productive than illiterate people.

• Literate people consume fewer natural resources than illiterate people.

• Literate people can get higher paying jobs than illiterate people and increase economic activity.

• Literate people are less likely than illiterate people to look for work outside of their home country.

Use the table of literacy rates in Southwest Asia to answer the question. Based on the table, which of the following is MOST LIKELY true?

• The unemployment rate is higher in Turkey than it is in Iraq.

• The standard of living is higher in Saudi Arabia than it is in Iraq.

• Turkey's economy is mainly dependent on the private sector.

• Afghanistan's economy is mainly dependent on the public sector.

Which of the following organizations did Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela found together?

• the International Trade Organization

• the Economic Cooperation Organization

• the Organization of Petroleum Exporting Countries

• the Organization for Economic Co-operation and Development

Which of the following BEST describes a quota?

• a ban placed on all trade with a particular country

• a tax placed on goods imported from a country

• a tax on export goods paid to the exporting government

• a limit on the amount of goods that can be imported from a country

How does improving the literacy rate increase the standard of living in a country?

• by allowing people to find better jobs

• by making the lawmaking process easier

• by reducing barriers to international trade

• by helping the country find natural resources

In 1960, Iran, Iraq, Kuwait, and Saudi Arabia joined Venezuela to form the Organization of the Petroleum Exporting Countries (OPEC). How did forming this organization allow those four Southwest Asian countries to gain billions of dollars to modernize their economies?

• By lowering demand, OPEC nations were able to set the prices for oil.

• By creating a surplus, OPEC nations were able to set the prices for oil.

• By increasing demand, OPEC nations were able to set the prices for oil.

• By controlling supplies, OPEC nations were able to set the prices for oil.