Middle East Economies 21-22

Middle East Economies 21-22

7th Grade

15 Qs

quiz-placeholder

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Middle East Economies 21-22

Middle East Economies 21-22

Assessment

Quiz

Geography

7th Grade

Medium

Created by

Kevin Walls

Used 228+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What 3 economic questions are asked when studying the similarities of traditional, command, market, and mixed economies among nations of the world?
What to produce, why to produce, when to produce?
What is your opportunity cost, what economic resources are needed, why should these resources be used?
What to produce, how to produce, and for whom to produce?
What is your opportunity cost, why are economic resources needed, when should these resources be used?

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What is ‘specialization’?
Producing all goods that the country needs so that trade with other countries isn’t necessary
Trying to avoid investing in capital goods because it’s too expensive
Producing goods a country can make most easily so that they can trade for goods that they can’t produce locally
Directly trading goods with another country without having to use money

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Why is specialization so valuable to international trade today?
Most countries only make one product really well.
Specialization allows people to do a more efficient job at producing what they make best and trade for the things they need.

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Saudi Arabia specializes in the production of:
Oil and olives
Olives and grapes
Oil and natural gas
Livestock

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

The economies of Israel, Saudi Arabia, Turkey, and Iran can best be described as:
Traditional
Command
Market
Mixed

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

In a traditional economy, how are economic decisions made?
Government leaders
Consumers
Customs and traditions
A mix of consumers and government leaders

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What is the definition of Gross Domestic Product (GDP)?
The total value of all the goods and services a country produces in a year
The total value of all goods imported within a year
The total value of taxes collected in a year
The total value of all goods produced by entrepreneurs in a year

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