Middle East Government & Economics Review Game

Transcription

1 Middle East Government & Economics Review Game

2 What is the total value of all goods and services produced in a country in a single year known as? Gross Domestic Product.

3 Why is it important for nations to have a system to convert from one currency to another? Converting to different currencies makes it possible to buy & sell goods between nations with different types of money.

4 Why do most countries in the Middle East & the world operate somewhere in between a market economy & a command economy? Most countries have found they need a mix of free market & gov t control to be successful & to protect consumers.

5 The economy of Saudi Arabia is based mainly on what two resources? Oil & Natural Gas

6 What happens to the price of oil when OPEC countries decide to reduce production of oil? Oil prices rise.

7 Why are most economies referred to as mixed economies? Most countries have aspects of all 3 economic systems at work in their economies.

8 A person who takes risks by starting a new business is called an. Entrepreneur

9 In a market economy, how are economic decisions made? Consumers and businesses.

10 What type of government does Saudi Arabia have? Autocracy ~ Absolute Monarchy

11 In 1973, countries in the Middle East stopped exporting oil to the U.S. in protest against US support of Israel. Such a strategy is an example of an. embargo

12 What is the relationship between education and training in a country and the country s GDP? Countries with a high level of education and training have a higher GDP.

13 The total amount of goods and services produced in a country in one year is known as the. GDP (Gross Domestic Product)

14 Which of these countries in the Middle East has a Democracy? Saudi Arabia, Israel, or Iran Israel

15 Why is having an educated workforce important to the GDP of a country? Workers are able to perform more complex tasks.

16 Which system of government BEST describes a country ruled by a central government that DOES NOT share power with any other level of government? Unitary.

17 Which term describes a religion controlled government? Theocracy

18 What narrow strait connects the Arabian Sea to the Persian Gulf & is vital to trading oil throughout the world? The Strait of Hormuz

19 In general, countries with high literacy rates have... Higher GDPs, increased Standards of Living.

20 Technologically advanced mixed economy Imports oil, grains, raw materials Produces & exports high-technology equipment Which country BEST describes these economic characteristics? Israel

21 Describe the rights and personal freedoms of women living in Saudi Arabia. Women have very few rights and personal freedoms.

22 If a country does NOT invest in its human capital, how can it affect the country s gross domestic product? GDP may go down because poorly trained workers will not be able to do their jobs well.

23 What is economic specialization? Producing those goods a country can make most efficiently so they can trade them for goods made by others that cannot be produced locally.

24 Almost every country in the world today has which type of economic system? Mixed

25 If someone wants to start their own business and take a risk, they are referred to as what? An Entrepreneur

26 In a traditional economy, how are economic decisions made? Customs & traditions.

27 Which SW Asian country s businesses are under the LEAST government control? Israel

28 How would you BEST describe the economies of Israel, Saudi Arabia, and Turkey today? Mixed

29 In a command economy, how are economic decisions made? Government.

30 What is the purpose of trade barriers? To slow down or stop trade between different countries.

31 Which economic term is used to describe the limiting of foreign goods that are allowed into a country? Quota

32 After Iraq invaded Kuwait, the United Nations called for a halt to trade with Saddam Hussein s government. This is an example of which type of trade barrier? Embargo

33 Which TWO trade barriers are used to protect local industries? Quotas and Tariffs

34 How has petroleum MOST impacted the economy in Saudi Arabia? Made the nation economically independent on oil

35 What should Israel do if it wants to make its markets more open to trade? Reduce trade barriers.

36 Why is specialization so valuable in international trade today? It allows people to do a more efficient job at producing what they make best so they can trade for the rest!

37 How has Israel made up of its lack of natural resources? They have developed an economy based on a skilled workforce and advanced technology.

38 What is Human Capital? The skills, training, and education a country provides for its citizens in order to create a more valuable workforce.

39 If a country does not invest in its human capital, how can it affect the country s GDP? The GDP may decrease because poorly trained workers will not be able to do their jobs as well.

40 What are capital goods? The goods and services that are produced for a country s economy.

41 Unemployment in Iran was nearly 20% in 2013, which negatively impacted the country s economy? Many economists believe the government needs to encourage entrepreneurship. What is the MOST LIKELY reason why economists would make this recommendation? Entrepreneurs would create new products and jobs, increasing the country s overall GDP.

42 Which country is ruled by a leader that inherits their power? Saudi Arabia.

43 In which type of government do citizens have the MOST political freedoms? Democracy.

44 In which country do citizens have the MOST political freedoms? Israel.

45 In which type of government do citizens participate equally? Democracy.

46 Israel elects its leaders. What type of government do they have? Democracy.

47 Which country in SW Asia permits only men to vote in elections? Saudi Arabia.

48 Which type of government would allow the GREATEST amount of religious freedom? Democracy.

49 How is the leader of parliamentary democracy chosen? By the dominant political party in the legislative branch.

50 What is the Israeli Parliament known as? The Knesset.

51 Which branch of government is responsible for making and carrying out the laws in a parliamentary system of government? The Legislative branch.

52 In a confederation system of government, most of the power is in the hands of? Local governments.

53 Who makes the decisions in an oligarchy? A group of powerful leaders.