NEW
Font size
S
M
L
XL
WorksheetsMiddle East Economics
Total questions: 35
Worksheet time: 4hrs 30mins
Name
Class
Date
1.
The economies of Israel, Saudi Arabia, Turkey, and Iran could best be described as
a)
mixed
b)
command
c)
market
d)
traditional
2.
How have the Israelis made up for their lack of natural resources?
a)
Everyone has a job, there is no unemployment
b)
They have developed strong technology companies
c)
They rely on farming
d)
They refuse to import oil, which saves money
3.
Saudi Arabia specializes in the production of
a)
oil and gas
b)
oil and sugar
c)
olive and orange
d)
beef and chicken
4.
Israel specializes in
a)
medical industry
b)
scientific industry
c)
Oil
d)
technologies
5.
Why was OPEC created?
a)
to regulate the supply and price of oil
b)
to design new machinery to produce oil
c)
to help the Palestinians
d)
to keep non-member countries from producing any oil
6.
Where are most OPEC countries located?
a)
Africa
b)
North America
c)
South America
d)
Southwest Asia
7.
Why have the Israelis made a big investment in human capital?
a)
their main industry is the oil industry
b)
they have to bring in workers from other countries
c)
investing in human capital takes very little money
d)
they need well-trained workers because of their technology
8.
If a country does not invest in its human capital, how can it affect the country's GDP?
a)
investment in human capital has little effect on GDP
b)
GDP is only affected if workers do a bad job
c)
most workers want to keep their jobs and don't care about GDP
d)
GDP may go down because poorly trained workers do a bad job
9.
What are capital goods?
a)
the workers who make the goods and services
b)
the money spent to train workers on technology
c)
the factories and machines used to make goods
d)
the goods and services produced
10.
Why are oil and gas such valuable natural resources?
a)
large deposits of oil are found in most countries
b)
industrial countries depend on oil/gas as the energy supply
c)
it is easy to replace these after they are used
d)
oil and gas are the ONLY sources of energy available
11.
How has Israel's lack of oil affected that country's economy?
a)
Israeli businesses use little oil to operate
b)
the economy is built around large-scale farming
c)
Israel has little industry due to their lack of oil
d)
the economy depends on technology instead of oil
12.
How has Israel's lack of oil affected that country's economy?
a)
Israeli businesses use little oil to operate
b)
the economy is built around large-scale farming
c)
Israel has little industry due to their lack of oil
d)
the economy depends on technology instead of oil
13.
Why has Israel specialized in the area of technology?
a)
It has few natural resources and little farmland.
b)
It has a poorly educated population.
c)
The money earned is used to support the military.
d)
The country has little in the way of fishing.
14.
Why was OPEC created?
a)
To design new technology for getting oil out of the ground
b)
To regulate the supply and price of oil
c)
To keep non-members from producing any oil
d)
To help Palestinian Arabs with problems with Israeli Jews
15.
Where are most OPEC countries located?
a)
Africa
b)
North America
c)
Southern and Eastern Asia
d)
Southwest Asia
16.
What happens to the price of oil when OPEC countries decide to reduce production?
a)
Oil prices decrease
b)
Oil prices increase
c)
Oil prices stay the same
d)
Oil becomes free to OPEC members
17.
What is the definition of Gross Domestic Product (GDP)?
a)
The total value of all the goods and services a country produces in a year
b)
The total value of all goods imported within a year
c)
The total value of taxes collected in a year
d)
The total value of all goods produced by entrepreneurs in a year
18.
Which Southwest Asian country’s businesses are under the LEAST amount of government control?
a)
Israel
b)
Saudi Arabia
c)
Iran
d)
Syria
19.
Tariffs and quotas are alike because they both __________________.
a)
restrict or limit trade between countries.
b)
completely stop trade between countries.
c)
increase trade between countries.
d)
make trading a lot easier between countries.
20.
In 1973, Southwest Asian (Middle East) countries stopped exporting oil to the United States in protest against the US’ support of Israel. What type of trade barrier is this?
a)
mountain
b)
tariff
c)
quota
d)
embargo
21.
The relationship between the literacy rate and standard of living in Southwest Asia is _________.
a)
Literacy rate has no effect on the standard of living.
b)
The higher the literacy rate the higher the standard of living.
c)
The standard of living is independent of literacy rate.
d)
Low literacy rate creates a higher standard of living.
22.
If Saudi Arabia’s government puts a limit on how much Israeli Dead Sea salt it will import this year, what trade barrier is this?
a)
Embargo
b)
Tariff
c)
Quota
d)
Opportunity Cost
23.
Which of the following would reflect Israel’s mixed economy?
a)
Prices and wages are solely regulated by the country’s government.
b)
A combination of privately-owned businesses and government regulations.
c)
The country’s distribution of resources is based on inheritance.
d)
Economic decisions are based on customs and beliefs of ancestors.
24.
Syria has not built new factories or used new technology in many years. What is the country NOT investing in?
a)
opportunity costs
b)
natural resources
c)
human capital
d)
capital goods
25.
A person who takes risks by starting a new business is known as a(n):
a)
International trader
b)
Economist
c)
Entrepreneur
d)
Dictatator
26.
IN a market economy who makes the economic decisions?
a)
farmers
b)
custom and habit
c)
government planners
d)
consumers and the market
27.
Which industry in Saudi Arabia does the government largely control?
a)
Oil
b)
technology
c)
agriculture
d)
textile manufacturing
28.
What is economic specialization?
a)
directly swapping goods from one country to another without having to use money
b)
trying to avoid investing in industry and technology because of the expense involved
c)
producing all goods and services needed for a country's growth so that trade with other countries is not needed
d)
producing goods that a country can make most efficiently so they can trade them for goods made by others that they cannot produce locally
29.
If a country does not invest in its human capital, how can it affect the country's gross domestic product (GDP)?
a)
Investment in human capital has little effect on the GDP
b)
Most workers want to keep their jobs and do not care about the GDP
c)
GDP is only affected if workers pay for the investment out of their own pocket
d)
GDP may go down because poorly trained workers will not be able to do their jobs well
30.
How has the Saudi government used its natural wealth to change the economy?
a)
All Saudi citizens are given an equal share of national wealth
b)
The Saudi government has spent very little to improve the lives of ordinary citizens
c)
A majority of the national wealth has been given to religious organizations in the country
d)
The government has paid for improvements in transportation, education, health care, and agriculture
31.
What is an entrepreneur?
a)
People who enjoy saving their money
b)
business people who try not to take risks with their money
c)
someone who is always successful at whatever they attempt
d)
Someone who is willing to take the risk to start a new business
32.
What are capital goods
a)
The workers who make the goods and services
b)
The factories and machines used to make goods
c)
The money spent to train workers to use new technology
d)
The goods and services that are produced for a country's economy
33.
A limit to the number or amount of a foreign produced good that is allowed into the country is known as
a)
A tariff
b)
A quota
c)
An Embargo
d)
A natural trade barrier
34.
A tax placed on goods coming into a country from another country is known as
a)
A tariff
b)
A quota
c)
An embargo
d)
A natural trade barrier
35.
A formal halt to trade with a particular country for economic and political reasons is known as
a)
A tariff
b)
A quota
c)
An embargo
d)
A natural trade barrier
Reset
