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WorksheetsUnit 3 Test Review: Middle East Economies
Total questions: 17
Worksheet time: 11mins
What is a similarity between a quota, boycott, embargo, and tariff?
They are taxes
They are benefits
They are trade barriers
They are trade agreements
Based on the scenario, what trade barrier would this represent?
Saudi Arabia, Qatar, Bahrain, and Egypt placed a trade barrier on Qatar for supporting terrorism. All trade was cut off between these 4 countries with Qatar, until it met the demands of the 4 Arab nations.
Embargo
Quota
Tariff
Boycott
Ms. Piggy owns a jewelry store. She gets most of her diamonds in the United States, however she also imports some from Israel. Prices are as follows:
U.S- 1 carat diamond $1,800
Israel-1 carat diamond $2,200
Why would a tariff be placed on the diamonds from Israel?
Ms. Piggy thinks if the Israeli diamonds are more expensive, she can make more money.
The U.S wants to help support Israel's economy by increasing the price of their diamonds
The U.S wants U.S citizens to support their own economy-thus increasing the price of the Israeli diamond. U.S diamond cheaper-more people support U.S economy.
A local dealership sells mainly U.S manufactured cars. For those people who want luxury Audi from Germany, the dealer allows only 100 cars imported to his dealership. What trade barrier is the local dealership using?
Embargo
Quota
Tariff
Boycott
The purpose of trade barriers (quotas, embargoes, tariffs) is.......
To offer the opportunity for people to shop locally but get the benefit of purchasing international products
To support international (foreign countries) industries
To protect domestic industries from foreign competition
Based on these countries' specialties, if Israel needed assistance in growing crops and grass, what country would they need to purchase from?
Fertilizer from Saudi Arabia
Food stuffs from Turkey
Lumber from Turkey
They would not need to trade because they make agricultural technology
Generally, the higher the literacy rate the higher the _________.
unemployment rate
(people without jobs)
GDP and GDP per capita
tariffs
natural resources
This is the percentage of people who can read and write over the age of 15 years.
Specialization
Human Capital
Literacy Rate
Literacy Standard
What would I be wanting to find if I added 300,000 people's annual income (what they make in 1 year) and divided that number by 300,000?
GDP
GDP per capita
Literacy Rate
National Annual Income
Based on the arable land of Iran, what natural resource may Iran need to import in order to sustain its country?
Crops/Agriculture
Lumber
Oil
Paper
What type of economy is #1?
Mixed Economy
Market Economy
Traditional Economy
Command Economy
What type of economies do Iran, Israel, Turkey, and Saudi Arabia share?
Mixed Economy
Traditional Economy
Command Economy
Market Economy
Determine what question is missing from the 3 economic questions every country/business must answer.
What good/services will be produced/provided?
How will goods be produced?
_____________________________________
How will it be produced?
For whom will it be produced?
Why will it be produced?
When will it be produced?
Generally speaking, the higher the literacy rate of a country, the ___________the GDP of that country.
higher
lower
more similar
less stable
What is the relationship between entrepreneurship in the middle east to the economy?
Fewer businesses in the ME encourages specializing in certain products
The more businesses= more products=higher GDP
The more businesses= increase in population
Fewer businesses creates less pollution in turn creates a pull factor
Saudi Arabia, Venezuela, Kuwait, Iran, and Iraq in 1960 formed.......
OPAC
OPC
OPTIC
OPEC
Within recent years, Saudi Arabia is allowing women to work in the workforce among men. Why would it be important for SA to invest in human capital?
The safer, healthier, and better educated people are= better economy and higher GDP (generally)
The better equipment/
materials businesses have=increased productivity and efficiency in producing products
Only a high literacy rate can improve human capital
It creates a sense of personal pride
