ECONOMICS
TECHNOLOGY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Mixed
|
|
|
Market
|
|
|
Command
|
|
|
Traditional
|
Detailed explanation-1: -Turkey consistently ranks among the world’s top ten nations for agricultural output. The service industry makes up about half of Turkey’s economy, just as it does in Israel. Saudi Arabia has an oil-based economy with strong government controls over major economic activities.
Detailed explanation-2: -Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses about 16% of the world’s proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC.
Detailed explanation-3: -The Israeli economy may thus be characterized as a “mixed” economy, in which roughly three-fifths of the product originates in the private sector, one-fifth in the public sector, and the other fifth in the Histadrut sector.
Detailed explanation-4: -While Saudi Arabia experiences government control of their economy in a number of ways, it remains a primarily market economy.