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economies and how they work

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