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WorksheetsSW Asia Govt and Econ
Total questions: 30
Worksheet time: 15mins
Name
Class
Date
1.
This is Saudi Arabia's form of government (political leaders are born into the "right" family and power is passed down to the following generation).
a)
theocracy
b)
monarchy
c)
dictatorship
d)
democracy
2.
What 3 economic questions are asked when studying the similarities of traditional, command, market, and mixed economies among nations of the world?
a)
What to produce, why to produce, when to produce?
b)
hat is your opportunity cost, what economic resources are needed, why should these resources be used?
c)
What to produce, how to produce, and for whom to produce?
d)
What is your opportunity cost, why are economic resources needed, when should these resources be used?
3.
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.
4.
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
5.
What is the purpose of the OPEC?
a)
The purpose of this group is to control worldwide oil prices
b)
eliminate oil prices
c)
start wars with other nations
d)
distribute oil
6.
Which country has the largest amount of oil deposit?
a)
Israel
b)
Jerusalem
c)
Jordan
d)
Saudi Arabia
7.
What makes the Middle East very important to the rest of the world.
a)
ISIS
b)
Natural Resources
c)
Oil
d)
Bombs
8.
Why have the Israelis made a big investment in human capital?
a)
Their main industry is the oil industry
b)
Investing in human capital takes very little
money
c)
They have to bring in workers from other
countries
d)
They
need well-trained workers because their economy depends on advanced technology
9.
What is an entrepreneur?
a)
People who enjoy saving all their money
b)
Business people who try not to take risks with
their money
c)
Someone who is always successful in whatever
he attempts
d)
Someone
who is willing to take a risk to begin a new business
10.
In a traditional economy, how are economic decisions made?
a)
Custom and habit
b)
consumers
and the market
c)
Government planners
d)
combination
of consumers and government planners
11.
In a command economy, how are economic decisions made?
a)
Custom and habit
b)
consumers
and the market
c)
Government planners
d)
combination
of consumers and government planners
12.
In a market economy, who makes the economic decisions?
a)
Farmers
b)
Government
planners
c)
Custom and habit
d)
Consumers and the market
13.
Why do most economies in the world today operate somewhere in between a market economy and a command economy?
a)
Most consumers want government control of the
economy
b)
Government control makes a market economy more
profitable
c)
Government control of some aspects of the
economy has never been successful in the modern world
d)
Most economies have found they need a mix of
free market and some government control to be successful and protect consumers
14.
The economies of Israel, Saudi Arabia, Turkey, and Iran could best be described as
a)
Mixed
b)
Command
c)
Market
d)
Traditional
15.
What is “economic specialization?”
a)
directly swapping goods form 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 those goods a country can make most efficiently so they can
trade them for goods made by others that cannot be produced locally
16.
Israel has invested heavily in capital goods in all of the following areas EXCEPT
a)
Oil
b)
Communication
c)
Defense
d)
Farming
and Agriculture
17.
What is human capital?
a)
Skills and education workers have
b)
money paid to workers for producing goods
c)
Taxes collected from a country’s workers
d)
the
amount of goods sold in foreign trade in a year
18.
Saudi Arabia specializes in the production of
a)
Oil and gas
b)
Olives and oranges
c)
Industrial technologies
d)
Agricultural technologies
19.
How has Israel’s lack of oil affected that country’s economy?
a)
Israeli
businesses use little oil to operate
b)
Israel has little industry due to their lack of oil
c)
The Israeli economy is built around large-scale farming
d)
The Israeli economy depends on technology rather than natural resources,
such as oil
20.
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 a country’s GDP
b)
Most workers want to keep their jobs and do
not care about GDP
c)
GDP is only affected if workers pay for the
investment out of their own pockets
d)
GDP may go down because poorly trained workers will not be able to do
their jobs as well
21.
The president of the United States of America is concerned about Iran nuclear program and placed this on Iran to stop all trade with them.
a)
tariff
b)
sussidy
c)
quota
d)
embargo
22.
In which situation would it be unwise for a country to focus on specialization?
a)
Country A can produce textiles efficiently, but there is little global demand for textiles.
b)
Country B is able to grow and export food quickly, but lacks major industrial investments.
c)
Country C has large oil reserves and natural gas, but little farmable land.
d)
Country D is known fashionable clothes that are desired globally, but lacks natural resources.
23.
Kuwait, Saudi Arabia, and Iran all belong to which international organization?
a)
NATO
b)
OPEC
c)
NAFTA
d)
The EU
24.
OPEC controls these two factors with regard to oil
a)
amount and quality
b)
quality and shipping source
c)
price and quality
d)
price and production
25.
The OPEC nations control 40% of the worlds oil output. The OPEC countries work together to control prices for oil and to keep profits flowing in their countries. One way that they control prices is to limit production. Each member country is given a maximum amount of oil they can sell in a given time. What describes the limit that OPEC puts on its members' production of oil?
a)
tax
b)
tariff
c)
quota
d)
embargo
26.
Based on its economy, the International Monetary Fund classifies Turkey as
a)
a developed market.
b)
an emerging market.
c)
a least developed country.
d)
a newly industrialized country.
27.
How do embargoes differ from other trade barriers such as quotas and tariffs?
a)
Embargoes can have a negative effect on domestic production.
b)
Embargoes lead to reductions in foreign economic investments.
c)
Embargoes cause an end to all trade across a range of goods.
d)
Embargoes are often used to protect domestic industries
28.
A monetary exchange system is necessary for international trade because it
a)
helps governments control inflation and deflation rates.
b)
allows goods to be traded between nations with different currencies.
c)
allows citizens from a nation to vacation in other countries.
d)
helps governments increase the efficiency of their economies.
29.
Which of the following economic relationships is directly proportional?
a)
the relationship between economic regulations and gross domestic product
b)
the relationship between national poverty levels and gross domestic product
c)
the relationship between investment in human capital and gross domestic product
d)
the relationship between increased militarization of society and gross domestic product
30.
In Israel, voters elect representatives to the legislature, and the representatives choose the head of the government. What type of government does Israel have?
a)
theocratic autocracy
b)
presidential democracy
c)
constitutional monarchy
d)
parliamentary democracy
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