Government types
What type of government does Saudi Arabia have?
Absolute monarchy(Autocracy)
The total market value of the goods and services produced by a country economy during a specific period of time is called the_________.
Gross domestic product or gdp.
What trade barrier places a tax on imported goods?
Tariff
What country is mixed and market leaning(Out of Turkey, Israel, And Saudi Arabia.)?
Turkey
The Grand national assembly, Consultative council, and the Knesset are part of which branch of government?
Legislator
What kind of government does Israel have?
Parliamentary democracy
If a country invest in education then they are investing in what?
Human capital
What trade barrier limits the amount of imported goods?
Quota
In what kind of economy do private citizens make economic decisions based on supply and demand?
Market economy
When international trade occurs what is the name of the term that describes how much money one country's currency is worth in relation to another country?
Currency exchange rate
What kind of government does Turkey have?
Presidential democracy
Roads, Hospitals, Power plants, and water treatment plants are examples of what?
Capital goods
What trade barrier puts a complete ban on trade?
Embargo
If the government in a country has total control of the economy and economic decisions then what kind of economic system does that country have.
Command
What country specializes in exporting oil?
Saudi Arabia
In what government type do citizens have the most participation in the government(Things like voting for the leader.)?
Democracy
Oil, coal, iron, and minerals are examples of what?
Natural Resources
If the USA only allows 100,000 Turkish rugs to be imported each year what trade barrier did they use?
Quota
What kind of economic system do Israel, Turkey, and Saudi Arabia have?
Mixed
How old do you have to be to vote in Turkey?
18 or older
What kind of law does Saudi Arabia government follow?
Islamic Law
Someone who takes a risk to start a business is consider a__________.
Entrepreneur
Why might a country use a trade barrier?
If they have a conflict with another country. (Answers may vary)
In what economic system are economic decision based off of traditions?
Traditional
What is OPECs job?
To control oil supply and prices