Show:
Types of Economic Systems
Trade Barriers
S.W.A Economies
Economic growth
Extras
100

What type of economic system is ruled by the government planners? 

Command economy

100
What is a tax on imported goods?
Tariff
100

an organization of oil producing countries (mostly in Southwest Asia) that regulates the supply and price of oil on the world market.

OPEC

100
What is the total value of goods produced and services provided in a country during one year?
Gross Domestic Product
100

Who takes on the financial risk in starting a new business in a market economy?

Entrepreneur 

200

What type of economic system combines private and public enterprise.

Mixed economy
200
What is a limit on imported goods?
Quota
200

What type of economic system does Turkey have?

Turkey/mixed leaning command

200
What is the percentage of the population aged 15 years and over who can both read and write?
Literacy rate
200

to determine the price of one country's currency in terms of another country's currency

currency exchange

300

Which type of economic system does the economy work based on custom.

Traditional economy
300
What is a restriction on all trade?
Embargo
300

Name the country and the type of economy based on the description provided: A Southwest Asia country whose economy is extremely dependent upon oil and gas revenues. Economic score of 64%

Saudi Arabia/mixed leaning command

300
What is the degree of wealth and material comfort available to a person or community?
Standard of living
300

 Economic ______is an efficient way to work and encourages trade among countries. 

Specialization

400

Which type of economic system does the consumers and market choose what to produce, how to produce, and whom to produce it for?

Market Economy 

400

What type of trade barrier did the U.S. have on Iraq in 1990?

Embargo

400

Which country among Israel, Saudi Arabia, and Turkey has an economy closest to a free market system?

Israel

400
What is the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value?
Human capital
400

Embargoes are sometimes done to protect the supply or value of a country's goods, but they can also be used as a strategy against other countries who wish to trade for those goods. Why do countries impose embargoes?

to declare war OR to punish the countries the embargo has been declared against

To punish the country it is placed against

500

Which would be a problem for a country with a traditional economy?

people need things and are unable to barter (trade) to get them

500
What is a fixed amount of money that raises the prices on goods coming into a country.
Tariff
500

What is one of Turkey's main economic challenges?

Desire to join the EU despite economic disparities

500
What are goods that are used in producing other goods?
Capital goods
500

What has been a challenge to Israel's economy?

Constant conflict and security issues with surrounding countries