ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Israeli businesses use little oil to operate
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Israel has little industry dues to their lack of oil
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The Israeli economy is built around large scale farming
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The Israeli economy depends on technology rather than natural resources such as oil
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Detailed explanation-1: -Israel consistently ranks high among the world’s economies in terms of its technological readiness, venture capital availability, and the quality of its research organizations. The country ranks 1st in availability of scientists and engineers, number of start-ups per capita, and venture capital investments per capita.
Detailed explanation-2: -Israel’s high status in new technologies is the result of its emphasis on higher education and research and development. The government also assists industrial growth by providing low-rate loans from its development budget.
Detailed explanation-3: -Israelis have made up for their lack of natural resources because: They have developed strong technology companies in their economies. The industry that the government of Saudi Arabia heavily control is: The oil industry.