Unit 3 Southwest Asia Economics Review Questions

Front

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

Back

government planning

Front

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

Back

supply and demand

Front

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

Back

custom and habit

Front

In order to strengthen its economy, the Saudi government has been pursuing economic policy goals encouraging diversification.

Back

diversification

Front

The main weakness of Saudi Arabia's economy is that it is .

Back

largely dependent on a single resource

Front

Turkey is moving toward a answer choice economic system.

Back

mixed

Front

What would happen if the Organization of the Petroleum Exporting Countries decided to produce less oil?

Back

The price of oil would increase.

Front

If the Organization of the Petroleum Exporting Countries reduced its oil production target, the MOST LIKELY result would be that answer choice .

Back

prices for oil would increase

Front

Which of the following is NOT a typical reason that a country would impose tariffs? A. to protect domestic employment, B. to help the country's industries compete, C. to raise money for government programs, D. to prevent the exhaustion of natural resources

Back

to prevent the exhaustion of natural resources

Front

Which of the following BEST explains the need for a monetary exchange system to in Southwest Asia? A. Most nations in the region do not engage in international trade. B. Each nation in the region specializes in a different industry. C. Most nations in the region rely on natural resources. D. Each nation in the region uses its own form currency

Back

Each nation in the region uses its own form currency