SW Asia Economies Review

In a _____ economy, the government makes the economic decisions.

• Market

• Command

• Traditional

In a _____ economy, customs and your ancestry make the economic decisions.

• Market

• Command

• Traditional

In a _____ economy, the people make the economic decisions.

• Market

• Command

• Traditional

Why are products made in a traditional economy?

• for consumption and trade only within the community

• for consumption and trade around the world

• based on Shari’a law

• The government shares control with private citizens

Compared to market economies, command economies are...

• usually less economically free

• usually more economically free

• less government driven

• more consumer driven

What two things do countries with mixed economies attempt to balance?

• Government control + Economic Freedom

• Domestic + foreign trade

• Natural resources + Gross domestic product

In which country would it be the easiest to be an entrepreneur?

• Israel

• Iran

• Saudi Arabia

• Turkey

Which country Best completes the diagram?

• Israel

• Turkey

• Saudi Arabia

• Iran

What is the "private sector?"

• Government owned

• Citizen owned

• A mix of government + citizen owned

• Owned by nobody

What is the "public sector?"

• Government owned

• Citizen owned

• A mix of government + citizen owned

• Owned by nobody