Amari Project 2

DIFFERENT ECONOMIC SYSTEMS IN SOUTHWEST ASIA. By: Amari Smith

Standard 

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-Explain how most countries have a mixed continuum between pure market and command economy . - Compare the basic economic systems found in Israel, Saudi Arabia, and turkey.

Essential Qustions 

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1. What are the economic systems of Southwest Asia located on a continuum between pure market and pure command economies? 2. What are the similarities and differences between the economic systems in Israel, Saudi Arabia, and turkey?

Economic system of Isarel 

The economy of Israel is a diversified market economy with substantial state ownership and rapidly developing high tector sector. The country Israel, is very poor in natural resources so they depend on natural imports of petroleum coal, food, Uncut diamonds, military equipment, and other production inputs.

Economic System of Saudi Arabia 

Saudi Arabia is a oil based economy, with strong government control over the major economic activities. Other known as a command economy: A economy that has a government that controls most of everything. Saudi Arabia possesses 25% of the world’s proven petroleum reserves, and ranks as the largest exporter of petroleum. This country also plays a major role in OPEC.

Economic System of Turkey 

The economy of Turkey is largely dominated by modern industries and the services sector. Turkey is among the world’s leading producers of agricultural products, textiles, motor vehicles, ships, construction materials, consumer electronics, home appliances, and other transportation equipment. Over the years, turkey had a rapidly growing private sector, yet the state still plays a major role in industry, banking, transport, and communications. Turkey is also known as a command economy: a economy that has a government that mainly controls everything.