Southwest Asia Economy

decisions in this type of economy are based on custom and habit

this type of farming only produces enough for a family's needs without any for selling

decisions in this type of economy are made by government planners

little freedom for things such as starting a business and the government decides everything

an economy in which a society's economic decisions are made by individuals who decide what to produce and what to buy

business people or individuals who take on the financial risk to start a new business

an economy with elements of both market and command economies; most countries have this type of economy

most economies need a mix of free market and some government control for success

This country has a mixed economy and few natural resources, so it depends a great deal on technology, especially agricultural technology

Saudi Arabia and Iran's economies are based heavily on these

a country produces products it can make best and that are in demand in order to buy the products it doesn't produce as well

anything that hinders trade; can be physical or political; protect local trade or used when countries have disagreements

tax on imported goods that raises the price of the imported goods eliminating competition with locally produced goods

a limit on the amount of foreign goods that can come into a country

when one country announces it will no longer trade with another country