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

What type of economic system is ruled by the government?

Command economy

100
What is a tax on imported goods?
Tariff
100

This country's economy has been struggling because it has to spend most of its budget on security and armed forces

Israel

100

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

Entrepreneur

100

Gifts of nature 

Natural resources 

200

What type of economic system combines private and public enterprise.

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

This country is one of the world's leading exporters of polished diamonds.

Israel

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 customs and family habits

Traditional economy

300
What is a restriction on all trade?
Embargo
300

What country has the highest unemployment rate and lacks skilled workers?

Saudi Arabia

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

What are the four factors of economic growth

Natural resources, Human Capital, Capital Goods, Entrepreneur

400

Which type of economic system does the consumers and corporations answer the economic questions?

Market Economy 

400

An efficient way to produce goods and encourages trade among countries because none can produce everything they need

specialization

400

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

Turkey

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

Which country would be the hardest to start a business in Southwest Asia

Saudi Arabia

500

Used to determine how rich or how poor a country is

GDP (Gross Domestic Product)

500

What does OPEC stand for and name at least two member countries

Organization of Petroleum Exporting Countries. Iran, Iraq, Saudi Arabia, Kuwait, 

500

What country relies on its agriculture and service sectors to support its economy

Turkey

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

Draw the economic continuum and place where Israel, Saudi Arabia, and Turkey fall on it

Saudi Arabia far left, Turkey close to middle, and Israel on right