Economies of the Middle East

What type of Economic system does Saudi Arabia have?

• Traditional

• Market

• Command

• Mixed

What industry makes up 90% of Saudi Arabia's exports?

• Iron

• Petroleum (oil)

• Gold

• Agriculture

Saudi Arabia's economy focuses on one main industry: oil. This is an example of a __________ economy

• Capital

• Natural

• Human

• Specialized

Which country is the most technologically advanced?

• Israel

• Turkey

• Saudi Arabia

• India

The primary cause of the rapid economic development of Saudi Arabia since the 1960's is…

• Petroleum (oil) exports

• Machinery imports

• Commercial shipping

• Industrial chemical production

Which country has the highest GDP?

• Saudi Arabia

• Turkey

• Israel

• Jordan

GDP is the number economists use to ________ the health of a country's economy.

Which of the following are true about capital goods?

• They require investment

• They increase production

• They decrease efficiency

• They help increase a country's GDP

Entrepreneurs come up with lots of new ________

Entrepreneurs play a(n) ________ role in the economy

• small

• insignificant

• vital

• minuscule