SS INB Flashcard SS7E4

Front

What are the three economic questions that every country must answer?

Back

What to produce? How to produce? For whom to produce?

Front

How do members of a traditional economy trade goods?

Back

bartering or trading items they have with people who have items they need

Front

How does a command economic system answer the three economic questions?

Back

Government makes all the decisions

Front

Which one of the following is an example of a pure market economy? Options: North Korea, Cuba, All western European countries

Back

There are no 100% pure market economies

Front

What type of economic system do most democratic countries have?

Back

mixed

Front

Which country has the most diversified economy in the middle east? Options: Syria, Israel, Turkey, Saudi Arabia

Back

Israel

Front

What has been a challenge to Israel's economy?

Back

national security and immigration

Front

What are the three economic systems of Saudi Arabia in order from oldest to newest since it became a nation in 1932?

Back

traditional, command, mixed

Front

How has Saudi Arabia set up private enterprise over the last 30 years?

Back

The government has encouraged private ownership of power generation and natural gas exploration.

Front

What economic challenges is Saudi Arabia facing?

Back

Diversifying the economy because oil supplies will run out, high unemployment, and unskilled native workforce