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SS7E7abcd-Economics In SW Asia
Test Description: Israel, Saudi Arabia, Iran
Instructions: Answer all questions to get your test result.
1) According to the normal relationship, if Iran decided to invest several billion dollars in education and training how would their GDP likely be affected?
A
It would depend on other factors
B
It would increase
C
It would not change
D
It would decrease
2) Saudi Arabia and Iran both invest in capital at higher rates than Israel. Based on this fact, which conclusion would be most logical?
A
Israel has fewer uses for capital.
B
Israel has a smaller growth rate
C
Israel has more natural resources.
D
Israel can’t trade with either country.
3) Which is a major similarity between the economies of Saudi Arabia and Iran?
A
Neither country has to trade with other countries.
B
Both countries trade their vast resources of water.
C
Both countries rely on oil as a primary export.
D
Neither country is concerned with investment in capital.
4) Which describes entrepreneurship?
A
machines, tools, and devices used for production
B
Putting together productive resources to produce a good or service
C
the physical talents of people to build things.
D
The ability to harvest and use natural resources
5) Saudi Arabia’s literacy rate increased from approximately 48% in 1980 to over 78% by 2009. Why is this important for the Saudi Arabian economy?
A
It helped to increase the country’s GDP.
B
It caused a decrease in foreign debt.
C
It has helped increase foreign trade
D
It resulted in fewer jobs for Saudi citizens.
6) In Iran, the economy is highly centralized and there are many regulations about private individuals opening and operating businesses. Saudi Arabia has made owning and operating a business very easy. What impact does this have on the role of entrepren
A
Entrepreneurs are not affected by government regulations.
B
Entrepreneurs will be able to make significant contributions to Saudi Arabia’s economy but not to Iran’s economy
C
It will limit efforts of entrepreneurs in both Iran and Saudi Arabia.
D
Both Iran and Saudi Arabia will benefit greatly from the efforts of entrepreneurs.
7) Why does Israel NOT enjoy the benefits of the oil industry in Southwest Asia?
A
Israel uses a command economy.
B
Other countries have high tariffs on Israeli oil.
C
Israel has no oil reserves.
D
The United Nations has placed an embargo on Israeli oil.
8) The economy of Saudi Arabia is based mostly on oil. Economies based on the sale of one resource can suffer when the price of that resource falls. The Saudi government has encouraged the development of industries other than oil in an attempt to
A
make the Saudi economy more diverse
B
strengthen the country’s education system.
C
raise money for the royal family
D
encourage entrepreneurship
9) Israel’s economy relies on a large supply of educated workers. Which statement about Israel today is true?
A
It is a pure command economy.
B
It has a wealth of natural resources, including oil.
C
It invests heavily in educating its people
D
It is not very technologically advanced.
10) There is only one way all economies are alike. Which statement describes the economies of many Southwest Asian countries today?
A
They are free market economies.
B
They are mixed economies
C
They are based on agriculture
D
They are command economies.
11) Why is the Saudi government increasing in spending on education and training for its young people?
A
The government realizes the country is running out of oil
B
The government wants to lower the GDP and the per capita income.
C
The government wants to prepare them for future conflicts.
D
The government will need to create many new jobs for them in the coming years.
12) The government of Saudi Arabia has increased its spending on education and training. This is an investment in
A
capital goods.
B
the stock market.
C
human capital.
D
international commerce
13) Turkish businessman Aydin Dogan owns oil and gas manufacturing, as well as television networks and newspapers in Turkey Such an individual is known as
A
an autocrat.
B
a nomad.
C
an entrepreneur
D
a legislator
14) When a country makes a strong investment in human capital, the MOST LIKELY outcome will be
A
improved economy and gross domestic product.
B
no economic growth
C
lower literacy rate nationwide.
D
lower gross domestic product.
15) In recent years, Saudi Arabia’s leaders have worked to diversify the economy by investing in capital resources. Which of the following is NOT a capital resource?
A
education
B
new machines
C
new technology
D
factories
*select an answer for all questions
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