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Middle East Economy

Study Guide for Middle East Economy and Government

QuestionAnswer
Israel's on-going social and political situations that causes a financial burden immigration and need for strong military
Saudi Arabia's government Monarchy
When oil was discovered in Saudi Arabia most of the revenue from the oil __. Government got richer, not the economy
Saudi Arabia's government (is/is not) heavily involved in the economy. Is involved
Saudi Arabia's economy Command
In the 1980s Saudi Arabia's government realized that oil is a limited __. limited
Saudi Arabia's government decided that it needed to diversify. What is diversify? create more economic opportunities
On an economic continuum which country has the freest market (Israel, Sandi Arabia, Turkey)? Israel
Israel's government is heavily involved in Agriculture because __. It doesn't want to rely on other countries
Strong correlation between a country's standard of living and __. literacy rate
Saudi Arabia is ruled by a __. King
Israeli's parliament is called the __. Knesset
Most countries have what type of economy? Mixed Economy
Saudi Arabia and Iran both have command economies that are moving toward more mixed market because their governments are encouraging more __. entrepreneurship
__ encourages trade among countries because no country produces everything it needs. specialization
What does Israel specialize in? diamonds and agriculture
Which country invests more in human capital? Israel, Saudi Arabia, Turkey, or Iran Israel
Measurement of a nation's economic performance GDP
Which weighs more - lira, afghani, dollar dollar
In Turkey, agriculture, textiles, and manufacturing are examples of __. private enterprise
Specialization encourages __. trade between countries
The primary function of OPEC is to set prices and amounts of oil being produced by members
Taxes paid for importing goods Tariff
Trade barriers (promote/do not promote) trade between countries. do not promote
Which end of the economic continuum do diversified economies tend to be? the freer end
Monarch rules for __. Life
Law based on the ___. Shariah Law
A government that sees God as the supreme leader is __. Theocracy
Shia religious leader is __. Ayatollah
Which country has the lowest literacy rate: Iran, Afghanistan, Saudi Arabia, Israel Afghanistan
Which country has the highest literacy rate: Iran, Afghanistan, Saudi Arabia, Israel Israel
Created by: music1201
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