Unit Test 3 - SWA Government & Economics | Baamboozle - Baamboozle

English 31 Public

7th grade social studies; SWA

Study Slideshow

This river provides fresh water to (and is a source of conflict for) Jordan, Syria, Lebanon and Israel

Jordan River

15

What natural resource do most people across the middle east choose to live near?

Fresh Water

15

This large body of water south of Iran sits on top of a VAST amount of natural petroleum.

Persian Gulf

15

Why are Saudi Arabia, Kuwait, Qatar and United Arab Emirates wealthier than many other middle eastern countries?

They have a large supply of oil

15

What is the driving force behind OPEC wanting to set their own prices and limiting the amount of oil they export?

MONEY! They want to make as much money as possible

15

Which economic system was based on bartering and trade; before money; also called Subsistence

Traditional Economy

15

What are the three basic Economic Systems?

Traditional, Market & Command

15

Mixed Economies are made up of which two basic Economic Systems?

Market & Command

15

What is the visual representation of mixed economies that fall between Free Market and Pure Command?

Economic Continuum

15

What are the three basic Economic Questions?

"WHAT to produce, HOW to produce, WHO to produce FOR"

15

Countries with higher literacy rates tend to have ________ GDP per capita.

Higher

15

What is the relationship between oil distribution and GDP per capita?

Higher oil distribution tends to relate to higher GDP per capita

15

What does OPEC stand for?

Organization of Petroleum Exporting Countries

15

What is the relationship between government investment in human resources/capital resources and GDP per capita?

Higher government investment in human resources/capital resources tends to relate to higher GDP per capita

15

What is the effect of Entrepreneurship on the economic market?

Increased Entrepreneurship leads to increased innovation and tends to relate to increased GDP per capita

15

Market or Command Element? Government increases taxes

Command

15