Now let’s play: NAME THAT ECONOMY!! Comparing the Economic Systems of the Middle East

Country #1: TURKEY 1.Encourages private investment and private businesses are growing. (More laws have been passed to protect private business owners. 2.Government controls a number of industries: a. transportation—airlines and railroads b. communication—telephone and television c. banks 3.Key industries in Turkey include textiles, oil refineries, iron, and steel. 4.Also, relies heavily on agriculture.—Turkey has been ranked in the top ten countries for agricultural output. Your answer, please…. This sounds like a country with a __________economy.Mixed

Well… Since it’s MIXED… Where on the continuum would you plot Turkey? CommandMarket

Country #2: IRAN 1.The state owns the nation’s rich oil and gas supplies; it also controls various large industries. 2.Even though there is oil wealth, the average Iranian citizen does not share in these profits. 3.Agriculture and small, privately owned businesses are also part of Iran’s economy. Service industries and mining also play important roles. 4.The government has tried to maintain a tight control on businesses, but the government-run aspects of the economy have been less efficient in recent years. 5.The economy continues to grow as more industry, modernization and private enterprise are introduced. Your answer, please…. This sounds like a country with a __________economy.Mixed

Well… Since it’s MIXED… Where on the continuum would you plot Iran? CommandMarket

Country #3: SAUDI ARABIA 1.The economy depends mainly on its rich oil reserves; it has been able to purchase most of the goods it cannot produce itself with these profits. 2.The country also is said to have excellent manufacturing and financial industries as well. 3.The government controls all economic activity, yet it is also encouraging more private business to boost the economy. 4.The government recognizes the nation’s need to decrease Saudi Arabia’s dependency on oil as well. 5.The king of Saudi Arabia and his advisors make most of the decisions about how and where to use oil profits, but they have invested a lot of the nation’s wealth in government-run technology companies that allow them to produce goods they would not be able to do otherwise in a desert climate. Your answer, please…. This sounds like a country with a __________economy.Mixed

Well… Since it’s MIXED… Where on the continuum would you plot Saudi Arabia? CommandMarket

Country #4: ISRAEL 1.A very small country with almost no natural resources, Israel has built an economy based on advanced technology which is developing rapidly. Companies are mostly privately owned with a few government-run companies. 2.Its production of electronics, biomedical industries, and of transport equipment brings in much of its revenue. Most of these businesses are privately owned. 3.Israel depends heavily on imports of petroleum (private), food products (private), and military weapons (government). 4.Israel’s economy is the most developed in Southwest Asia, with both government and private ownership. Your answer, please…. This sounds like a country with a __________economy Mixed

Well… Since it’s MIXED… Where on the continuum would you plot Israel? CommandMarket