SS7 Unit 5 Summative -- Governments of Southwest Asia

Instrukcije

For each question, choose the BEST answer. You may listen to the audio to have the questions and choices read to you.

Obavezno

5

What 3 economic questions are asked when studying the similarities of traditional, command, market, and mixed economies among nations of the world?

What to produce? Why to produce? When to produce?

What is your opportunity cost? What are economic resources needed? Why should these resources be used?

What to produce? How to produce? For whom to produce?

What is your opportunity cost? Why are economic resources needed? When should these resources be used?

Obavezno

5

What is "Specialization"?

Producing all goods that the country needs so that trade with other countries is not necessary.

Trying to avoid investing in capital goods because it is too expensive.

Producing goods a country can make most easily so that they can trade for goods that they can't produce locally.

Directly trading goods with another country without having to use money.

Obavezno

5

Why is specialization so valuable to international trade today?

Most countries only make one product really well.

Specialization allows people to do a more efficient job at producing what they make best and trade for the things they need.

It keeps the prices low on imported goods.

It limits the amount of agriculture a country allows.

Obavezno

5

Saudi Arabia specializes in the production of...

Oil and olives

Olives and grapes

Oil and natural gas

Livestock

Obavezno

5

Why has Israel specialized in the area of technology?

It has few natural resources and little farmland.

It has a poorly educated population.

The money earned is used to support the military.

The country has little in the way of fishing.

Obavezno

5

The economies of Israel, Saudi Arabia, Turkey and Iran can best be describes as...

Traditional

Command

Market

Mixed

Obavezno

5

In a traditional economy, how are economic decisions made?

Government leaders

Consumers

Customs and traditions

A mix of consumers and government leaders

Obavezno

5

Why was OPEC created?

To design new technology for getting oil out of the ground.

To regulate the supply and price of oil

To keep non-members from producing any oil

To help Palestinian Arabs with problems with Israeli Jews.

Obavezno

5

What happens to the price of oil when OPEC countries decide to reduce production?

Oil prices decrease

Oil prices increase

Oil prices stay the same

Oil becomes free to OPEC members

Obavezno

5

What is the definition of Gross Domestic Product (GDP)?

The total value of all the goods and services a country produces in a year

The total value of all goods imported within a year

The total value of taxes collected in a year.

The total value of all goods produced by entrepreneurs in a year.

Obavezno

5

Which Southwest Asian country's businesses are under the LEAST amount of government control?

Israel

Saudi Arabia

Iran

Syria

Obavezno

5

Tariffs and quotas are alike because they both _______________________.

restrict or limit trade between countries.

completely stop trade between countries.

increase trade between countries.

make trading a lot easier between countries.

Obavezno

5

In 1973, Southwest Asian countries stopped exporting oil to the United States in protest against the US's support of Israel. What type of trade barrier is this?

mountain

tariff

quota

embargo

Obavezno

5

The relationship between the literacy rate and standard of living in Southwest Asia is ____________.

Literacy rate has no effect on the standard of living.

The higher the literacy rate, the higher the standard of living.

The standard of living is independent of literacy rate.

Low literacy rate creates a higher standard living.

Obavezno

5

If Saudi Arabia's government puts a limit on how much Israeli Dead Sea salt it will import this year, what trade barrier is this?

Embargo

Tariff

Quota

Opportunity

Obavezno

5

Which of the following would reflect Israel's mixed economy?

Prices and wages are solely regulated by the country's government.

A combination of privately-owned businesses and government regulations.

The country's distribution of resources is based on inheritance.

Economic decisions are based on customs and beliefs of ancestors.

Obavezno

5

Syria has not built new factories or used new technology in many years. What is the country NOT investing in?

opportunity costs

natural resources

human capital

capital goods

Obavezno

5

A person who takes risks by starting a new business is known as a(n)....

International trader

Economist

Entrepreneur

dictator

Obavezno

5

Herman lives in a country that allows citizens to vote for representatives who make government decisions. Specifically, Herman votes for the Chief Executive who runs the military and handles foreign relations and the legislature who make laws.
What type of government does Herman live in?

Absolute Monarchy

Autocratic Dictatorship

Presidential Democracy

Parliamentary Democracy

Obavezno

5

You are the chief executive in your country's democratically elected national government. You came to power in the last election after your political party won a majority of seats in the national legislature. As the leader of your political party, you were chosen to be the head of government by the legislature.
Which form of government do you have?

Oligarchic

Autocratic

Parliamentary

Presidential

SS7 Unit 5 Summative -- Governments of Southwest Asia

What 3 economic questions are asked when studying the similarities of traditional, command, market, and mixed economies among nations of the world?

What is "Specialization"?

Why is specialization so valuable to international trade today?

Saudi Arabia specializes in the production of...

Why has Israel specialized in the area of technology?

The economies of Israel, Saudi Arabia, Turkey and Iran can best be describes as...

In a traditional economy, how are economic decisions made?

Why was OPEC created?

What happens to the price of oil when OPEC countries decide to reduce production?

What is the definition of Gross Domestic Product (GDP)?

Which Southwest Asian country's businesses are under the LEAST amount of government control?

Tariffs and quotas are alike because they both _______________________.

In 1973, Southwest Asian countries stopped exporting oil to the United States in protest against the US's support of Israel. What type of trade barrier is this?

The relationship between the literacy rate and standard of living in Southwest Asia is ____________.

If Saudi Arabia's government puts a limit on how much Israeli Dead Sea salt it will import this year, what trade barrier is this?

Which of the following would reflect Israel's mixed economy?

Syria has not built new factories or used new technology in many years. What is the country NOT investing in?

A person who takes risks by starting a new business is known as a(n)....

Herman lives in a country that allows citizens to vote for representatives who make government decisions. Specifically, Herman votes for the Chief Executive who runs the military and handles foreign relations and the legislature who make laws.What type of government does Herman live in?

What 3 economic questions are asked when studying the similarities of traditional, command, market, and mixed economies among nations of the world?

What is "Specialization"?

Why is specialization so valuable to international trade today?

Saudi Arabia specializes in the production of...

Why has Israel specialized in the area of technology?

The economies of Israel, Saudi Arabia, Turkey and Iran can best be describes as...

In a traditional economy, how are economic decisions made?

Why was OPEC created?

What happens to the price of oil when OPEC countries decide to reduce production?

What is the definition of Gross Domestic Product (GDP)?

Which Southwest Asian country's businesses are under the LEAST amount of government control?

Tariffs and quotas are alike because they both _______________________.

In 1973, Southwest Asian countries stopped exporting oil to the United States in protest against the US's support of Israel. What type of trade barrier is this?

The relationship between the literacy rate and standard of living in Southwest Asia is ____________.

If Saudi Arabia's government puts a limit on how much Israeli Dead Sea salt it will import this year, what trade barrier is this?

Which of the following would reflect Israel's mixed economy?

Syria has not built new factories or used new technology in many years. What is the country NOT investing in?

A person who takes risks by starting a new business is known as a(n)....

Herman lives in a country that allows citizens to vote for representatives who make government decisions. Specifically, Herman votes for the Chief Executive who runs the military and handles foreign relations and the legislature who make laws.What type of government does Herman live in?

Herman lives in a country that allows citizens to vote for representatives who make government decisions. Specifically, Herman votes for the Chief Executive who runs the military and handles foreign relations and the legislature who make laws.
What type of government does Herman live in?

Herman lives in a country that allows citizens to vote for representatives who make government decisions. Specifically, Herman votes for the Chief Executive who runs the military and handles foreign relations and the legislature who make laws.
What type of government does Herman live in?