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Unit 3 Review (II)
Test Description: Unit 3: "Economics of SW Asia"
Instructions: Answer all questions to get your test result.
1) In Israel, it is easy to start a business. What impact does this have on the role of entrepreneurs?
A
Entrepreneurs are not affected.
B
Entrepreneurs can make significant contributions to the economy of Israel.
C
The efforts of entrepreneurs are limited because of a lack of government rules.
D
Entrepreneurs will have no real impact on the economy of Israel.
2) What is the best description of the economies of Israel and Turkey?
A
businesses controlled by European investors
B
the economy is based on customs and beliefs
C
a mixture of private and government-owned businesses
D
mainly government-owned businesses
3) If a country does not invest in its human capital, how can it affect the country’s gross domestic product (GDP)?
A
GDP may not rapidly increase because poorly trained workers will not be able to do their jobs as well.
B
Most workers want to keep their jobs and do not care about GDP.
C
Investment in human capital has little effect on a country’s GDP.
D
GDP is only affected if workers pay for the investment out of their own pockets.
4) What do the members of OPEC have in common?
A
They share a common language and history.
B
They influence the price of oil on the world market.
C
They share a common form of government.
D
They maintain a military force in the Middle East.
5) In Turkey, the government and individual citizens make economic decisions. This is a(n):
A
mixed economy
B
market economy
C
command economy
D
traditional economy
6) Where is the largest portion of the world's oil located?
A
Southern and Eastern Asia
B
South America
C
sub-Saharan Africa
D
the Middle East
7) Why is it important to have a system to convert from one currency to another?
A
The dollar is the most valuable currency in the world today.
B
Converting currency makes it possible to buy and sell goods between nations with different types
C
The conversion to different currencies makes goods cost less.
D
The banks are not able to handle different kinds of currencies.
8) How has the discovery of oil in some Southwest Asian (Middle East) countries affected the economic development of this area?
A
Those with oil need less water than the other countries around them.
B
Those countries with oil reserves are much richer than those countries that have not found oil in
C
Having oil has made very little difference in the economy in this region.
D
The discovery of oil has meant that no other industries have developed in the region.
9) How does specialization assist the economies of all countries?
A
It encourages trade between countries.
B
It does not affect trade between countries.
C
It motivates countries to migrate closer to command economies.
D
It restricts trade between countries.
10) What is an embargo?
A
a tax placed on imports
B
a limit on imports from other nations
C
a limit on trade with other countries
D
the refusal to cooperate with other countries in a specific region
*select an answer for all questions
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