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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 not change
B
It would increase
C
It would decrease
D
It would depend on other factors
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 more natural resources.
B
Israel has a smaller growth rate
C
Israel can’t trade with either country.
D
Israel has fewer uses for capital.
3) Which is a major similarity between the economies of Saudi Arabia and Iran?
A
Both countries rely on oil as a primary export.
B
Both countries trade their vast resources of water.
C
Neither country has to trade with other countries.
D
Neither country is concerned with investment in capital.
4) Which describes entrepreneurship?
A
The ability to harvest and use natural resources
B
machines, tools, and devices used for production
C
Putting together productive resources to produce a good or service
D
the physical talents of people to build things.
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 resulted in fewer jobs for Saudi citizens.
B
It has helped increase foreign trade
C
It caused a decrease in foreign debt.
D
It helped to increase the country’s GDP.
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
It will limit efforts of entrepreneurs in both Iran and Saudi Arabia.
B
Entrepreneurs are not affected by government regulations.
C
Both Iran and Saudi Arabia will benefit greatly from the efforts of entrepreneurs.
D
Entrepreneurs will be able to make significant contributions to Saudi Arabia’s economy but not to Iran’s economy
7) Why does Israel NOT enjoy the benefits of the oil industry in Southwest Asia?
A
The United Nations has placed an embargo on Israeli oil.
B
Israel uses a command economy.
C
Israel has no oil reserves.
D
Other countries have high tariffs 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
raise money for the royal family
B
strengthen the country’s education system.
C
encourage entrepreneurship
D
make the Saudi economy more diverse
9) Israel’s economy relies on a large supply of educated workers. Which statement about Israel today is true?
A
It is not very technologically advanced.
B
It has a wealth of natural resources, including oil.
C
It is a pure command economy.
D
It invests heavily in educating its people
10) There is only one way all economies are alike. Which statement describes the economies of many Southwest Asian countries today?
A
They are command economies.
B
They are mixed economies
C
They are based on agriculture
D
They are free market economies.
11) Why is the Saudi government increasing in spending on education and training for its young people?
A
The government wants to lower the GDP and the per capita income.
B
The government wants to prepare them for future conflicts.
C
The government realizes the country is running out of oil
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
international commerce
B
human capital.
C
capital goods.
D
the stock market.
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
a nomad.
B
an entrepreneur
C
an autocrat.
D
a legislator
14) When a country makes a strong investment in human capital, the MOST LIKELY outcome will be
A
no economic growth
B
lower gross domestic product.
C
improved economy and gross domestic product.
D
lower literacy rate nationwide.
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 technology
C
new machines
D
factories
*select an answer for all questions
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