Transcript Slide 1
Unit 3 Review Game!!! What are the 3 types of economic systems? Traditional, Command, Market What is the name of this country? What is a Traditional Economic System? Economic system where nothing changes or modernizes, bartering is used and is in very poor areas. What is a Command Economic System? Economic system where the government controls/owns businesses and land. What is a Market Economic system? Economic system where people can own businesses and make decisions for themselves. What type of economic system to most countries in the world today have AND why? Mixed because you have to have a little bit of government control mixed in with private ownership. What kind of economic system does Saudi Arabia have (be specific). Mixed (mostly command) What kind of economic system does Turkey have (be specific)! Mixed (mostly command) What kind of economic system does Israel have (be specific)! Mixed (mostly market) Who was the “father” of Judaism? Abraham What does OPEC do? Set and controls the price of Oil What happens to the price of oil when OPEC countries decide to reduce production of oil? Oil prices rise. What type of government does Israel have? Parliamentary Democracy What is the name of this country? What kind of government does Saudi Arabia have? Absolute Monarchy What is an Absolute Monarchy? King or Queen has TOTAL control of a country (they are an autocrat) What kind of government does Iran have? Theocratic Republic What is a Theocratic Republic? When a country’s government is ran by religion. What is a Unitary government? Central government has most of the control & local has a little control A person who takes a risk by starting their own business is known as this. An Entrepreneur What is a federal government? Central & local government split the power What is an Autocratic government? When one person rules a country with complete power! What is an ethnic group? A group of people who share similar culture, language, religion, and where they live. What is the name of this country? What is the difference between a Parliamentary Democracy & a Presidential Democracy? Parliamentary the Prime Minster helps make laws with the legislature & Presidential the President does NOT make laws with legislature What is the purpose of countries having an exchange rate with their currency? Trade, so you can buy and sell goods! A decision by one country to eliminate all exports and imports with another country. EMBARGO What country in the Middle East has the most progressive & successful economy? Israel What is the most dominant ethnic group in the Middle East? Arabs What is the name of this country? What TWO leaders are in Iran? President & Ayatollah What is a natural trade barrier AND what is an example of one? Something found in nature that makes trading difficult. Examples: Rivers, Mountains, Deserts, Ice Bergs, etc. What type of economy does Israel have (be specific)? Mixed (mostly market) What leader is ELECTED in Iran? President! Why was Israel created for the Jews in 1948 by the United Nations? Because of the Holocaust, they needed a “home” What country in the Middle East has a Democracy? Israel What is the name of this body of water? What country in the Middle East has an Absolute Monarchy? •Saudi Arabia What country in the Middle East has a Theocratic Republic? Iran! What organization created Israel for the Jews in 1948? United Nations What is an example of Jewish Nationalism? Zionism What is Zionism? The Jewish movement for the Jews to start taking back their Holy Land in Palestine (Israel). What are the first TWO bodies of water oil has to travel through once it is taken from the Persian Gulf? Strait of Hormuz & Arabian Sea Where is Mecca? Saudi Arabia What are the 3 holy texts for Judaism, Christianity, and Islam? Torah/Hebrew Bible, Bible, and Qur’an What is it called when one country relies on another country for goods, services, or natural resources? Interdependence What two rivers are in IRAQ? Tigris & Euprates Quotas, tariffs, and embargos are all examples of what kind of trade barriers? Political Trade Barriers What is a tariff? Tax on imports and exports What is a quota? Limit on the amount of imports and exports What 4 ethnic groups are in the Middle East? Arabs, Kurds, Persians, Jews Where do Arabs live? All over M.East & Northern Africa Persians live in what country? Iran Where do Kurds live? Turkey, Iraq, and Iran What war started when Saddam Hussein (Iraq) invaded Kuwait for oil? Persian Gulf War (Operation Desert Storm) What is the definition of GDP? Total amounts of goods & services produced in a country in a year If your country’s GDP is high or low what can that tell you about a country? The standard of living Where in the world will you find a Traditional Economic System? In VERY poor areas/regions. NO country has one If religion runs your country, you live under what kind of government? Theocracy What is specialization? When your country is really good at making something (a good or product) Why do the Arabs and Israelis argue today? Name 3 things. Land, Water (resources), and Religion What resource is Scarce in the Middle East? WHY?? Water, because it’s mostly desert! What THREE questions must all countries & businesses ask themselves when making a good or product? 1. What to produce, 2. How to produce, & 3. For whom to produce for Final Jeopardy Time!!! Pick ONE person to answer the final question. Decide, as a team, how many points you want to wager!