SW Asia's Economic Systems

Which economic systems are compared to answer the basic economic questions of what, how, and for whom to produce?

• Traditional, command, and market economies

• Socialist, capitalist, and mixed economies

• Developed, developing, and underdeveloped economies

• Democratic, totalitarian, and authoritarian systems

What type of economic system is said to be located on a continuum between pure market and pure command according to the standards?

• A mixed economic system

• A traditional economic system

• A command economic system

• A market economic system

Which countries were mentioned in our lesson that we compared their economic systems?

• China, Russia, and the United States

• Israel, Saudi Arabia, and Turkey

• Brazil, India, and South Africa

• Germany, Japan, and Canada

Which industry is mentioned as one that Israel is involved in, specifically in the cutting and polishing of diamonds?

• Mining industry

• Technology industry

• Agricultural industry

• Tourism industry

What role do private businesses play in Israel's economy?

• They have no role in the economy.

• They control the electric and natural gas industries.

• They are involved in the aerospace industry.

• They determine the prices of goods and services.

What is the Index of Economic Freedom used to measure?

• The level of government intervention in the economy

• The percentage of the economy based on technology

• The success rate of private businesses

• The amount of natural resources a country has

Which type of economies is Israel's economy most similar to?

• Purely command economies

• Mixed economies with some elements of command

• Purely market economies

• Economies based solely on agriculture

What is the main reason for the high cost of living in Saudi Arabia?

• The government's control over most of the economy

• The large number of private enterprises

• The country's reliance on oil supplies from other countries

• The diversification of the economy

What section is the Saudi Arabian government encouraging private businesses to invest in?

• Oil production

• Tourism and health care

• Textile manufacturing

• Technology and innovation

What is the Saudi Arabian government's stance on privately-owned businesses?

• It is strictly regulated with no private sector involvement.

• It is encouraged to diversify the economy but still under government control.

• It is completely privatized with no government intervention.

• It is discouraged in favor of government-owned businesses.