Name______SS______Date______
QUESTIONS OF AN ECONOMY: SAUDI ARABIA, TURKEY & ISRAEL
SAUDI ARABIA: When Saudi Arabia answers the first question of an economy the first thing they consider is “What do we have?” What does Saudi Arabia have?______
So, Saudi Arabia’s answer to the first question of economy (What will be produced) is ______and ______products like gasoline, plastics, medicines and petrochemicals fertilizers.
The second question of an economy (How will we produce) is mostly about WHO will be in control of production. In Saudi Arabia, slightly more than half of businesses are controlled by the people (private ownership), but who is in control of the oil… the government or the people? ______. So therefore, Saudi Arabia is a mixed economy on more of the ______side of the continuum.
TURKEY: When Turkey answers the first question of an economy theirnumber one answer is
______(like clothing, rugs, yarn,…), but answers also include foods, mining, automobiles, transportation (especially trains), tourism, petroleum and much more.
When Turkey answers the second question of an economy (How will we produce) the answer is that many businesses are controlled by the government. However, Turkey is privatizing. This means that Turkey has changedtheir economyto allow more ______ownership of businesses. Turkey is in fact moving to a more ______economy even though it is mixed.
Turkey has many minerals in the ground, such as copper, zinc and lead. Turkey also has arable land (good farmland) so they produce cotton, wool, sugar, fruits and meat. Turkey’s economy is diversified. This means ______
Name______SS______Date______
QUESTIONS OF AN ECONOMY: SAUDI ARABIA, TURKEY & ISRAEL
SAUDI ARABIA: When Saudi Arabia answers the first question of an economy the first thing they consider is “What do we have?” What does Saudi Arabia have?______
So, Saudi Arabia’s answer to the first question of economy (What will be produced) is ______and ______products like gasoline, plastics, medicines and petrochemicals fertilizers.
The second question of an economy (How will we produce) is mostly about WHO will be in control of production. In Saudi Arabia, slightly more than half of businesses are controlled by the people (private ownership), but who is in control of the oil… the government or the people? ______. So therefore, Saudi Arabia is a mixed economy on more of the ______side of the continuum.
TURKEY: When Turkey answers the first question of an economy their number one answer is
______(like clothing, rugs, yarn,…), but answers also include foods, mining, automobiles, transportation (especially trains), tourism, petroleum and much more.
When Turkey answers the second question of an economy (How will we produce) the answer is that many businesses are controlled by the government. However, Turkey is privatizing. This means that Turkey has changed their economyto allow more ______ownership of businesses. Turkey is in fact moving to a more ______economy even though it is mixed.
Turkey has many minerals in the ground, such as copper, zinc and lead. Turkey also has arable land (good farmland) so they produce cotton, wool, sugar, fruits and meat. Turkey’s economy is diversified. This means ______
ISRAEL:Israel has very little natural resources, so to answer the first question of an economy (what will be produced) Israel relies on its highly educated ______.
Some of Israel’s main products are ______, ______, and ______.
When Israel answers the second question of an economy (How will we produce – by gov’t control or private control) the answer more than 60% of the time is ______ownership. This means Israel is mixed but more ______on the continuum.
COMPARISIONS:
The nations of Israel, Saudi Arabia and Turkey are all more ______ economies. This means they have more ______ownership of businesses.
Saudi Arabia’s economy is mostly dependent on one resource, ______. Turkey’s economy has many different types of businesses; this means its economy is ______. Israel’s economy is wealthiest because it has ______human capital.
The letters on the continuum represent the economies of Israel, Saudi Arabia and Turkey. Based on the clues provided, write each country’s name onto the continuum in its correct position.
Israel has more entrepreneurs than Saudi Arabia or Turkey.
Turkey has more government control of businesses than Israel or Saudi Arabia.
Saudi Arabia has privatized more than Turkey, but less than Israel.
more more
command market
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ISRAEL: Israel has very little natural resources, so to answer the first question of an economy (what will be produced) Israel relies on its highly educated ______.
Some of Israel’s main products are ______, ______, and ______.
When Israel answers the second question of an economy (How will we produce – by gov’t control or private control) the answer more than 60% of the time is ______ownership. This means Israel is mixed but more ______on the continuum.
COMPARISIONS:
The nations of Israel, Saudi Arabia and Turkey are all more ______ economies. This means they have more ______ownership of businesses.
Saudi Arabia’s economy is mostly dependent on one resource, ______. Turkey’s economy has many different types of businesses; this means its economy is ______. Israel’s economy is wealthiest because it has ______human capital.
The letters on the continuum represent the economies of Israel, Saudi Arabia and Turkey. Based on the clues provided, write each country’s name onto the continuum in its correct position.
Israel has more entrepreneurs than Saudi Arabia or Turkey.
Turkey has more government control of businesses than Israel or Saudi Arabia.
Saudi Arabia has privatized more than Turkey, but less than Israel.
more more
command market
I------I------a---b------c------I