1. Southwest Asia The Middle East
FSMS
7th Grade Social Studies; Unit 3
Production, Distribution & Consumption
(Factors Affecting Economic Growth)
Day 38-39
Georgia Standard SS7E7a.b

2. The Middle East Production, Distribution & Consumption
Entrepreneurs
Entrepreneurs are creative, original thinkers who are willing to take risks to create new businesses and products.
Entrepreneurs think of new ways to combine productive resources (natural resources, human capital, and capital) to produce goods and services that they expect to sell for a profit.

3. The Middle East Production, Distribution & Consumption
Entrepreneurs cont.
Israel
Israel has created a positive environment for entrepreneurs. Government policies, including the country’s tax structure, encourage entrepreneurship and small businesses.
Israel also has a program to train immigrants, Arab- Israelis, and people over 55 to start their own businesses.

4. The Middle East Production, Distribution & Consumption
Entrepreneurs cont.
Saudi Arabia
Saudi Arabia knows it needs to diversify its economy and is taking steps to help entrepreneurship.
For example, it has cut the time it takes for an entrepreneur to make it through government requirements to start a business.

5. The Middle East Production, Distribution & Consumption
Entrepreneurs cont.
Saudi Arabia cont.
International investors are starting an Entrepreneur Institute in Saudi Arabia that supports new business owners and gives them a place to start a business.
Finally, government reforms in Saudi Arabia are making it somewhat easier for small business to get off the ground.

6. The Middle East Production, Distribution & Consumption
Entrepreneurs cont.
Iran
The number of entrepreneurs in Iran is small, but it’s growing. An Iranian entrepreneur has to overcome many hurdles like;
Getting credit from a bank.
Many private investors who are wiling to lend money charge a very high rate interest
It is also difficult for an entrepreneur to hire good managers for a business because little training is available.

7. FIRST FIVE
Agenda Message: CDA-II is Friday, January 12, 2018 covering Government, Economies, GDP, Factors that Influence Economic Growth, Trade & Trade Barriers. Study Guides go home Tomorrow!
Standard: Describe the factors that influence economic growth and examine their presence or absence in Israel, Saudi Arabia, and Iran.
Essential Question for Wednesday, 1/3/18: What investments can countries make to stimulate the growth of their economies as measure by GDP?
Warm Up: How are Gross Domestic Product and Standard of Living connected?
Today We Will:
Cover Factor that Influence Economic Growth – Entrepreneurs
International Currency Exchange

8. ANSWERS E.Q. Answer for Wednesday 1/3/18:
Countries are guaranteed to growth their economies if they invest in the following;
Human Capital
Capital Good
Natural Resources
Entrepreneurs
Warm-Up:
GDP is tied to increases in Standard of Living (SOL). Countries that experience GDP growth will also experience a corresponding improvement in SOL.

9. FIRST FIVE
Agenda Message: CDA-II is Friday, January 12th covering Government, Economies, GDP, Factors that Influence Economic Growth, Trade & Trade Barriers. Study Guides go home Today!
Standard: Describe the factors that influence economic growth and examine their presence or absence in Israel, Saudi Arabia, and Iran.
Essential Question for Thursday, 1/4/18: Why is it important for nations to have a system to convert from one currency to another?
Warm Up: What is the definition for entrepreneur?
Today We Will:
Cover Factor that Influence Economic Growth – Entrepreneurs
Foreign Currency Exchange

10. ANSWERS
E.Q. Answer for Thursday 1/4/18: Countries must be able to exchange their currencies with those used by other countries around the world. In order for them to trade with each other, they have to be able to figure out what goods cost in each currency. Warm-Up: Entrepreneurs are creative, original thinkers who are willing to take risks to create new businesses and products.

11. FIRST FIVE
Agenda Message: 1st Semester Report Cards go home TODAY! CDA-II is next Friday, January 12th. Review your Study Guides.
Standard: Describe the factors that influence economic growth and examine their presence or absence in Israel, Saudi Arabia, and Iran.
Essential Question for Friday: 1/5/18: A strong, growing economy will also provide what benefit to a country and its citizens?
Warm Up: List three things that entrepreneurs must exhibit in order to be successful.
Today We Will:
Foreign Currency Exchange
Factors that Influence Economic Growth worksheet
CDA-II Review

12. ANSWERS E.Q. Answer for Friday 1/5/18: A High Standard of Living
Warm-Up:
They must be;
Creative
Original thinkers, and
Be willing to take risks