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Economies
economies and how they work
| Question | Answer |
|---|---|
| what is a command economy? | it's an economy where the government owns most of the land and is in charge of the economy. It's very hard to be an entrepreneur. |
| what's a market economy? | this economy is where the producers( also known as the owner or business) and the consumers maka all of the decisions |
| what's some major industries in isreal? | farming, diamond mining , technology |
| major industries in Saudi Arabia | oil, chemicals, date fruits |
| turkey's major industries | oil, minerals, farmland, textiles |
| quota | limit on goods in trade |
| embargo | the block off of trade |
| tariff | a tax on goods |
| what does O.P.E.C do? | it controls the quanity and price of oil |
| where are most of the O.P.E.C countries located? | the middle east |
| how does profits from oil help the country of Saudi Arabia? | they upgrade technology and eduacate their citizens |
| why do you need a system to exchange curriencies? | TRADE |
| capital goods | machienes that help with businesses |
Created by:
egrace0801
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