What 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 technology?

The economies of Israel, Saudi Arabia, Turkey, and Iran can best be described as:

In a traditional economy, how are economic decisions made?

Why was OPEC created?

Where are most OPEC countries located?

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’ 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?

One of Iran’s biggest problems with their state-run oil industry is:

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

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