Water Crisis
A likely cause of crop and farming failure in the SW Asia
Irrigated water is now polluted.
Turkey
tariff
Countries with a high GDP most likely invest ____
in physical capital (goods)
When a OPEC member country is involved in a war, what happens to oil?
the price increases
Frequent flooding of the Tigris and Euphrates River has caused what
It led to the development of irrigation systems to control the flow of water.
When oil and energy resources are wholly owned and controlled by the state-owned Saudi Arabian Oil Company, it mostly describes what type of economy.
command
Israel's economy has invested in this resource.
technology
A command country is debating which goods to specialize in? What economic question is MOST important to answer first?
What goods can be produced the most efficiently?
Central issue in the Israeli-Palestinian conflict has been over this important source of water
Jordan River
Reason Turkey has a water advantage in the region
The Tigris and Euphrates Rivers (2 primary freshwater sources) begin in Turkey.
type of economy are producers LEAST LIKELY to produce a surplus of goods
traditional
A limit on the amount of goods a that can be imported from a country
quota
The oil industry makes up over 90 percent of the Saudi Arabia's gross domestic product. The country sells oil to other countries and purchases the goods its people need. This is an example of what?
specialization
Most SW Asia economies are ____.
mixed
Leading cause of river pollution in SW Asia
agricultural runoff
type of economy the government is MOST LIKELY to set production quotas for certain goods
command
ownership of their natural resources
Companies that invest in education of their employees
Increase worker productivity or human capital
Why is currency exchange necessary for trade?
One country's currency may not be legal tender in another country.
Reason water pollution is of great concern in the SW Asia region
Clean drinking water is scarce
This economic system allows the forces of supply and demand to determine most economic choices, but also imposes regulations on how goods may be produced and sold.
mixed
If the OPEC reduced its oil production target, what would be the result?
Oil prices would rise (increase)
A major weakness of Saudi Arabia's economy
Too dependent of a single resource (oil)
By controlling supplies, OPEC nations are able to ___.
set the prices of oil