Economic Systems Quiz

Government control of what and how to produce, and for whom to produce it is which type of economic system?

• Market

• Mixed

• Command

• Traditional

When private businesses make decisions based on supply and demand, it is which type of economic system?

• Command

• Market

• Mixed

• Traditional

A mixed economic system is when both private businesses and the government make the economic decisions. Which country is considered to have a mixed market system?

• Saudi Arabia

• Israel

• Turkey

• Iran

Which Middle East country has the least amount of government control over its economy?

• Saudi Arabia

• Turkey

• Israel

• Iran

Which Middle East country has the most amount of government control over its economy?

• Saudi Arabia

• Turkey

• Israel

• Iran

Which country is described as having very few natural resources, making trade important?

• Saudi Arabia

• Turkey

• Israel

• Iran

What is the primary source of income for Saudi Arabia?

• Agriculture

• Oil

• Tourism

• Technology

Which currency is used in Turkey?

• Shekel

• Riyal

• Lira

• Dinar

When a country focuses on making goods they can make best or better than other countries, they can trade these goods to get goods they cannot produce in their own country. This concept is called ______.

• Embargo

• Quota

• Specialization

• Thrift

Saudi Arabia prohibits imports of pork and used clothes and cars, this is an example of an/a ______.

• Quota

• Specialization

• Tariff

• Embargo

• Thrift