Southwest Asia Econ

Turkey Developed and a mixed economy Encourages private investment & has growing private sector Government regulates: banks, transportation, communications Industries: textile, oil, iron, steel, food chemicals, machinery products World’s top 10 for agricultural output

Iran Mixed economy State owns nation’s oil & gas Service industry, mining, agriculture and manufacturing modernizing

Saudi Arabia Oil Finance & manufacturing Lots of government control 5-6 million foreign workers play role in economy

Israel Because of US aid one of the most developed Mixed economy Lacks natural resources Has petroleum, food & weapons Hi-tech industry growing also electronics, biomedical

Economic Growth OPEC – organization of petroleum exporting countries Persian Gulf – ports & access to shipping routes Tigris & Euphrates River Barrier – terrain & access to water

Question 1.The economies of Israel, Saudi Arabia, Iran, and Turkey can all best be described as… a.Command economies b.Market economies c.Socialist economies d.Mixed economies

Question 2. Deserts on the Arabian Peninsula, rugged mountains in Afghanistan and Iran, and the lack of rivers in much of Southwest Asia are examples of a.Natural trade barriers b.Natural resources c.Political trade barriers d.Economic development

Writing Describe OPEC and its purpose