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SW Asia Economics 1

Total questions: 51

Worksheet time: 51mins

Name
Class
Date
1.
As you move along the economic continuum from market to command, what happens to the amount of government involvement in the economy??
a)
It decreases
b)
It increases
c)
It stays the same
2.
As you move along the economic continuum from market to command, what happens to the amount of economic freedom in the system?
a)
It decreases
b)
It increases
c)
It stays the same
3.
In which economic system would you most likely have inherited the tools you work with from your mother?
a)
Command
b)
Market
c)
Traditional
4.
You work in a factory that makes pink calculators because that�s what the government tells you to make. You are part of a _________________ economic system.
a)
Command
b)
Market
c)
Traditional
5.
Computers
a)
Capital goods
b)
Entrepreneur
c)
Human capital
d)
Natural resources
6.

what are the traditional,command,and market economic questions?

a)

(1) what to produce ,(2) how to produce, and (3) for me to produce.

b)

(1) citizens to produce ,(2) how to destroy, and (3) for whom to produce.

c)

(1) when to produce ,(2) where to produce, and (3) for whom to produce.

d)

(1) what to produce ,(2) how to produce, and (3) for whom to produce.

7.

What are Turkey's cheif exports?

a)

purpel cows, foodstuffs, fortnite, metal manufactures, transport equipment

b)

apparel, foodstuffs, textiles, metal manufactures, transport equipment

c)

candy, foodstuffs, textiles, metal manufactures, transport equipment

d)

apparel, french food, textiles, metal manufactures, transport equipment

8.

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

9.

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

10.

A formal halt to trade with a particular country for economic and political reasons is known as

a)

Tariff

b)

Quota

c)

Embargo

d)

Natural Barrier

11.

Which term is necessary for international trade?

a)

embargo

b)

interdependence

c)

currency exchange

d)

human capital

12.
An economic exchange in which all sides agree to participate because they expect to benefit.
a)
International Trade
b)
Voluntary Trade
c)
Economy
d)
Trade barrier
13.

Businesses make economic decisions, but the government regulates them to make sure they're safe/fair.

a)

Mixed

b)

Traditional

c)

Command

d)

Market

14.

What are tangible objects that satisfy economic wants and needs?

a)

Services

b)

Labor

c)

Invest

d)

Goods

15.
In this economy, the government produces its signature brand of shoe-flavored chips and determines that it will be sold in all stores for $1.25 per bag. Which type of economy is this?
a)
Traditional Economy
b)
Market Economy
c)
Mixed Economy
d)
Command Economy
16.

Why do countries need a system for exchanging currencies?

a)

To assist economic growth

b)

To encourage business loans

c)

To conduct international trade

d)

To support commercial treaties

17.
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 those goods a country can make most efficiently so they can trade them for goods made by others that cannot be produced locally
18.

This Southwest Asian country's economy is based on agriculture.

a)

Nigeria

b)

Turkey

c)

Afghanistan

d)

Saudi Arabia

19.

Kuwait, Saudi Arabia, and Iran all belong to which international organization?

a)

NATO

b)

OPEC

c)

NAFTA

d)

The EU

20.

What happens to the price of oil when OPEC countries decide to reduce production?

a)

prices rise

b)

prices drop

c)

prices stay the same

d)

oil stops being sold

21.
During the 1973 Oil Crisis, OPEC nations put a stop on petroleum they would sell and export to the United States. This economic trade barrier caused a rise in oil prices at this time. 
a)
export
b)
tariff
c)
embargo
d)
quota
22.
Which industry does Saudi Arabia's government specialize in?
a)
Oil
b)
technology
c)
agriculture
d)
textile manufacturing
23.

Why was OPEC created?

a)

To regulate the supply and price of oil

b)

To help the Palestinians in their problems with Israel

c)

To design new machinery to get oil out of the ground

d)

To keep countries that are not members from producing any oil

24.
Quota
a)
A limit on the amount of foreign goods that can come into a country. 
b)
Anything that slows downs or prevents one country from exchanging goods with another. 
c)
A tax placed on goods when they are brought into one country from another country. 
d)
Products a country makes best that are demand on the world market. 
25.
Trade Barriers
a)
A limit on the amount of foreign goods that can come into a country. 
b)
Anything that slows downs or prevents one country from exchanging goods with another. 
c)
A tax placed on goods when they are brought into one country from another country. 
d)
Products a country makes best that are demand on the world market. 
26.
OPEC
a)
Factories, machines, and technology that people use to make products to sell. 
b)
Creative, original thinkers who are willing to take risks to create a new businesses and products. 
c)
Organization of Petroleum Exporting Countries founded to set oil prices and policies. 
d)
A system of changing from one type of currency to another. 
27.
How has the Saudi government used its national wealth to change the country?
a)
All Saudi citizens are given an equal share of the national wealth.
b)
The Saudi government has spent very little to improve the lives of 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.
28.
An import is a
a)
Good/service brought into a country
b)
Good/service sent to another country
c)
Good brought into a country
29.
An export is a
a)
Good/service brought into a country
b)
Good/service sent to another country
c)
Good brought into a country
30.

What is the difference between tariffs and quotas?

a)

tariffs raise prices on exports, quotas set limits on imports

b)

tariffs raise prices on imports, quotas set limits on exports

c)

tariffs raise prices on exports, quotas set limits on exports

d)

tariffs raise prices on imports, quotas set limits on imports

31.

Who is the head of government in a parliamentary democracy?

a)

President

b)

Junta

c)

Monarch

d)

Prime Minister

32.

Saudi Arabia's literacy rate has grown from 49% to 79%. This may indicate that investments have been made in which area?

a)

capital

b)

entrepreneurship

c)

human capital

d)

natural rescources

33.

Based on this continuum, which best describes Israel's economy:

a)

purely privately owned businesses

b)

purely government-owned businesses

c)

businesses controlled by European investors

d)

a mix of private and government-owned businesses

34.

Tools used in the production of goods and services

a)

Captial goods

b)

Human Captial

c)

Natural Resources

d)

Education

35.

Something that comes from the Earth or nature that is useful to humans.

a)

Natural Resources

b)

Capital Goods

c)

Human Capital

d)

Embargoes

36.

When a country focuses on producing the goods and service they can make and trading for what they are unable to produce.

a)

Trade barrier

b)

Specialization

c)

Exchange Rate

d)

Trade

37.

The education, training, skills, and health of the workers in a business or coutnry

a)

Human Capital

b)

Natural Resources

c)

Capital Goods

d)

Capital Resources

38.

The total value of the final goods and services produced within a country in one year.

a)

Per capita GDP

b)

GDP (gross domestic product)

c)

Economy

d)

Mixed Economy

39.

The ability to organize, manage, and take on the risks of a business or enterprise.

a)

Trade

b)

Entrepreneurship

c)

Human Capital

d)

Specialization

40.

When countries invest in human capital their GDP

a)

goes up

b)

goes down

c)

is neutral

41.

When countries invest in education and training

a)

human capital goes down

b)

human capital goes up

c)

capital goods go up

d)

capital goods go down

42.

Which country has the highest literacy rate?

a)

Israel

b)

Turkey

c)

Saudi Arabia

43.

Which country has the highest GDP per capita?

a)

Israel

b)

Saudi Arabia

c)

Turkey

44.
Bridges
a)
Capital goods
b)
Entrepreneur
c)
Human capital
d)
Natural resources
45.
Health insurance
a)
Capital goods
b)
Entrepreneur
c)
Human capital
d)
Natural resources
46.
Literacy classes
a)
Capital goods
b)
Entrepreneur
c)
Human capital
d)
Natural resources
47.
New social media format
a)
Capital goods
b)
Entrepreneur
c)
Human capital
d)
Natural resources
48.

How do citizens participate in an autocratic government?

a)

they are able to determine their political leaders through voting

b)

they are able to control all aspects of their government

c)

they almost always pay high taxes to fund their government

d)

they usually have little to no participation in their government

49.

What form of government is used by both Turkey and Israel?

a)

Theocracy

b)

Monarchy

c)

Parliamentary Democracy

d)

Anarchy

50.

Which responsibility does the legislature in a parliamentary democracy usually have?

a)

choosing the leader of government

b)

interpreting the meaning of laws

c)

appointing the monarch

d)

determining the constitutionality of laws

51.

Why is Saudi Arabia considered to have some democracy when it is an autocracy?

a)

citizens have no personal freedoms

b)

citizens vote for some of their local officials

c)

citizens can vote for members of parliament and the president

d)

citizens can choose their leader

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