Unit 4: Middle East Economics Question Preview (ID: 39453)


Middle East Econmics. TEACHERS: click here for quick copy question ID numbers.

Which country has the highest literacy rate and standard of living in Southwest Asia?
a) Israel
b) Saudi Arabia
c) Iran
d) Turkey

Investment in updating computer technology, machinery and equipment are investments in
a) human capital
b) capital goods
c) natural resources
d) entrepreneurship

Replanting trees that have been cut down is an investment in
a) human capital
b) capital goods
c) natural resources
d) entrepreneurship

Decreasing taxes for small business is an investment in
a) human capital
b) capital goods
c) natural resources
d) entrepreneurship

As a country's literacy rate and GDP rises their standard of living usually
a) decreases
b) increases
c) stays the same
d) no change

Health insurance, employee day care, and training are investments in
a) human capital
b) capital goods
c) natural resources
d) entrepreneurship

Which of the following is not a man-made trade barrier?
a) Tariff
b) Quota
c) Embargo
d) GDP

A person who takes the risk to start their own business is called
a) an advertiser
b) an imperialist
c) a consumer
d) an entreprenuer

A formal halt to trade between nations is called
a) a quota
b) an embargo
c) a tariff
d) an exchange rate

A limit on foreign goods coming into the country is called
a) a quota
b) an embargo
c) a tariff
d) an exchange rate

A tax on goods coming into the country is called
a) a quota
b) an embargo
c) a tariff
d) an exchange rate

A scale showing the value of a country's currency in comparison to another country is
a) a quota
b) an embargo
c) a tariff
d) an exchange rate

Which of the following is not a natural trade barrier?
a) mountains
b) desert
c) volcano
d) quota

The 3 questions that must be answered by the economic system are
a) What to produce, how to produce and for whom to produce.
b) what to produce, how to produce and how much government gets
c) What to produce, when to produce and how to produce.
d) how to produce, how much to produce and when to produce.

The government controls all aspects of the economy in which system?
a) Traditional
b) Command
c) Market
d) Mixed

Producers and consumers make all the economic decisions in which economic system?
a) Traditional
b) Command
c) Market
d) Mixed

This economic systems includes free enterprise with some government control.
a) Traditional
b) Command
c) Market
d) Mixed

Which economic system is based on customs of the past?
a) Traditional
b) Command
c) Market
d) Mixed

Which system is a combination of the 3 primary economic systems and is the most-used today?
a) Traditional
b) Command
c) Market
d) Mixed

What are the 3 basic economic systems?
a) Traditional, Mixed, Monarchy
b) Supply, Demand, Barter
c) Traditional, Command, Market
d) Institutional, Free-Market, Demand

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