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SW Asia (Economics)
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Saudi Arabia specializes in the production of
olive and orange
oil and gas
If a country does not invest in its human capital, how can it affect the country's gross domestic product (GDP)?
GDP may go down because poorly trained workers will not be able to do their jobs well.
Most workers want to keep their jobs ad do not care about GDP.
GDP is only affected if workers pay for the investment out of their own pocket.
Investment in human capital has little effect on a country's GDP.
Someone who is willing to take a risk to begin a new business.
Producing those goods a country can make most easily so they can trade them for goods made by others that cannot be produced locally
What are capital good?
The workers who make the goods and services.
The factories and machines used to make goods.
The money spent to train workers to use new technology
The goods and services that are produced for a country's economy.
A ban on trading with a particular country for economic or political reasons is _________.
Israel has invested heavily in capital goods in all of the following areas EXCEPT
farming and agriculture
This economic system is a blend of command and market systems.
In this economic system, decisions are made by private citizens with no government regulation.
The Saudi government has encouraged the development of industries other than oil in an attempt to
raise money for the royal family
strenghen the country's education system
make the Saudi economy more diverse
What is human capital?
taxes colled from a country's workers
skills and education workers have
money paid to workers for producing goods
the amount of gooods sold in foreign trade in a year
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