Study Guide - Unit Test on S.W. Asia Governments and Economies

A traditional economy is primarily based on which of the following?

• Industrial production

• Barter and trade

• Digital currency

• Stock market investments

A command economy is an economic system where:

• The government makes all economic decisions.

• Supply and demand determine production.

• Businesses operate with minimal government intervention.

• Consumers have the freedom to choose products.

Define Mixed economy.

• An economic system combining private and public enterprise.

• An economic system based solely on private enterprise.

• An economic system based solely on public enterprise.

• An economic system with no government intervention.

A market economy is defined as an economic system where:

• The government controls all economic activities.

• Supply and demand determine the production of goods and services.

• There is no private ownership of resources.

• Prices are set by a central authority.

Unicameral refers to a legislative body with how many chambers?

• One

• Two

• Three

• Four

Define bicameral.

• A system of government with two legislative houses or chambers.

• A system of government with a single legislative house or chamber.

• A system of government with three branches of government.

• A system of government with no legislative body.

Which trade barrier is often used during war?

• Tariffs

• Quotas

• Embargoes

• Subsidies

The unicameral legislature known as the Knesset belongs to which nation?

• Israel

• Jordan

• Egypt

• Lebanon

Which of the following best describes a capital good?

• A good used for personal consumption

• A good used in the production of other goods

• A good that is consumed immediately

• A good that is intangible

Israel has what type of democracy?

• Direct democracy

• Representative democracy

• Participatory democracy

• Deliberative democracy