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One reason that the Organization of Petroleum Exporting Countries (OPEC) is so powerful is that:
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OPEC nations control a majority of the world’s oil reserves.
It encourages trade between countries.
Converting currency makes it possible to buy and sell goods between nations with different types of money.
China and India
specialization
Japan
Entrepreneurs can make significant contributions to the economy of Israel.
Saudi Arabia focuses great amounts of time and energy on the oil industry. This is an example of:
trading continues
OPEC nations control a majority of the world’s oil reserves.
It encourages trade between countries.
Converting currency makes it possible to buy and sell goods between nations with different types of money.
China and India
specialization
Japan
Entrepreneurs can make significant contributions to the economy of Israel.
Which of the following nations has few natural resources and arable land and has to import most of the resources and food that it needs?
trading continues
OPEC nations control a majority of the world’s oil reserves.
It encourages trade between countries.
Converting currency makes it possible to buy and sell goods between nations with different types of money.
China and India
specialization
Japan
Entrepreneurs can make significant contributions to the economy of Israel.
When countries issue tariffs and/or quotas against other nations:
trading continues
OPEC nations control a majority of the world’s oil reserves.
It encourages trade between countries.
Converting currency makes it possible to buy and sell goods between nations with different types of money.
China and India
specialization
Japan
Entrepreneurs can make significant contributions to the economy of Israel.
In the economy of Israel, it is easy to start a business. What impact does this have on the role of entrepreneurs in Israel?
trading continues
OPEC nations control a majority of the world’s oil reserves.
It encourages trade between countries.
Converting currency makes it possible to buy and sell goods between nations with different types of money.
China and India
specialization
Japan
Entrepreneurs can make significant contributions to the economy of Israel.
Which two highly-populated nations of S+E Asia have high amounts of natural resources, which have greatly assisted their economies?
trading continues
OPEC nations control a majority of the world’s oil reserves.
It encourages trade between countries.
Converting currency makes it possible to buy and sell goods between nations with different types of money.
China and India
specialization
Japan
Entrepreneurs can make significant contributions to the economy of Israel.
How does specialization assist the economies of all countries?
trading continues
OPEC nations control a majority of the world’s oil reserves.
It encourages trade between countries.
Converting currency makes it possible to buy and sell goods between nations with different types of money.
China and India
specialization
Japan
Entrepreneurs can make significant contributions to the economy of Israel.
Why is it important to have a system to convert from one currency to another?
trading continues
OPEC nations control a majority of the world’s oil reserves.
It encourages trade between countries.
Converting currency makes it possible to buy and sell goods between nations with different types of money.
China and India
specialization
Japan
Entrepreneurs can make significant contributions to the economy of Israel.
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