Middle East Economics Test
Quiz by Delicia Folsom
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40 questions
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- Q1Half of the know supply of what natural resource is located in Southwest Asia (Middle East)?OilUraniumWaterDiamonds30s
- Q2What organization controls the price and supply of much of the world's petroleum?UNOPECOASNATO30s
- Q3In 1973 Saudi Arabia refused to sell oil to the United States and other countries that supported its enemy Israel. What type of trade barrier did Saudi Arabia use?BlockadeEmbargoQuotaTariff30s
- Q4What usually happens when the supply of a product goes down?The price will go down.The price will go up.The price will be reduced.The price will not change.30s
- Q5Most of the oil in the Southwest Asia (Middle East) surrounds which body of water?Red SeaPersian GulfDead SeaMediterranean Sea30s
- Q6Iran and Saudi Arabia have focused much of their economies on oil production. What might happen to their GDP if most people started driving electric cars that did not use gasoline?Their GDP is not dependent on oil.Their GDP would increase.Their GDP would not change.Their GDP would decrease.30s
- Q7What type of trade barrier charges an extra fee or tax on imported goods so that the price will be higher?ProfitEmbargoTariffQuota30s
- Q8One strength of Israel's economy is that it has many ways of producing wealth. Which word describes Israel's economy?DiversifiedDemocraticSpecializedParliamentary30s
- Q9Which statement describes the human capital of Saudi Arabia?Saudi Arabia has the world's largest supply of oil.Saudi Arabia has invested a lot of money into oil rigs.Many of the royal family members own companies.Many of its citizens are not well educated.30s
- Q10Israel, Turkey and Saudi Arabia all have economies that are influences by the government. Individuals still have some role to play, however, in answering the basic economic questions. How would you describe these economies?Pure CommandAutocraticMixedPure Market30s
- Q11Oil is the foundation of which of the following nation's economies?AfghanistanSaudi ArabiaIsraelLebanon30s
- Q12If the standard of living in a country is high, what other fact is probably also true?The literacy rate is declining.There is no relation to the literacy rate.The literacy rate is probably high.The literacy rate is low.30s
- Q13Country A limits the number of cars that can be brought from Country B. What type of trade barrier is this?QuotaSpecializationTariffEmbargo30s
- Q14If some countries have natural resources, and other countries do not, what is mostly likely the result of the uneven distribution of resources?Countries with few resources have a higher gross domestic product.Countries with more natural resources have a higher GDP.Countries with fewer resources are wealthier.Countries with more natural resources have less global trade.30s
- Q15Saudi Arabia has an autocratic government that controls production and distribution of oil. What type of economy does Saudi Arabia have?Market economyTraditional economyCommand EconomyCapitalist economy30s