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• How many basic types of economic systems are  there?• Name the economic systems.• Which economic system do most textbook...
• How many basic types of economic systems are  there? 3• Name the economic systems. Traditional,  Command, Market• Which ...
Economies of SW     Asia
Georgia Performance           Standards• SS7E5 The student will analyze  different economic systems.• b. Explain how most ...
Economic Systems  Pure                        PureCommand                      Market
Israel(1) What to produce?A large portion of Israel’s GDPcomes from high techmanufacturing, financialservices, and agricul...
(2) How to produce?Israel has substantialgovernment ownership ofbusiness, but is graduallyprivatizing companies.
(3) For whom to produce?The private sector producesgoods and services for domesticand international markets basedon the ma...
Israel          ic       om    on ms                         68% E c te   S ysPlace on the continuum: Israel would fall in...
Saudi Arabia(1) What to produce?Saudi Arabia is theworld’s leadingproducer of oil. TheSaudi governmentcontinues to invest ...
Saudi Arabia                     (2) How to produce?•   Over 95% of the oil industry in the    country is operated by the ...
Saudi Arabia3) For whom to produce?            • One third of Saudi              Arabia’s GDP is              based on exp...
ic     om  o n msEc te S ys                        Saudi                             Arabia                              6...
Turkey(1) What to produce?Turkey has a diversified economy withlarge service, manufacturing, andagriculturalsectors.
(2) How toproduce?Since the late1980s, Turkey hasgradually movedfrom agovernmentdirected economyto more privateenterprise.
(3) For whom to produce?One fifth of Turkey’s production isexported. The remainder isconsumed by domesticconsumers andthe ...
ic     om  o n msEc te S ys                            Turkey                                  62%Place on the continuum: ...
ic     om  o n ms                  IsraelEc te              68% S ys             Turkey              62%                Sa...
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  1. 1. • How many basic types of economic systems are there?• Name the economic systems.• Which economic system do most textbooks say is the most common throughout the world?
  2. 2. • How many basic types of economic systems are there? 3• Name the economic systems. Traditional, Command, Market• Which economic system do most textbooks say is the most common throughout the world? Mixed.
  3. 3. Economies of SW Asia
  4. 4. Georgia Performance Standards• SS7E5 The student will analyze different economic systems.• b. Explain how most countries have a mixed economy located on a continuum between pure market and pure command.• c. Compared contrast the economic systems in Israel, Saudi Arabia, and Turkey.
  5. 5. Economic Systems Pure PureCommand Market
  6. 6. Israel(1) What to produce?A large portion of Israel’s GDPcomes from high techmanufacturing, financialservices, and agriculture.
  7. 7. (2) How to produce?Israel has substantialgovernment ownership ofbusiness, but is graduallyprivatizing companies.
  8. 8. (3) For whom to produce?The private sector producesgoods and services for domesticand international markets basedon the market price system.
  9. 9. Israel ic om on ms 68% E c te S ysPlace on the continuum: Israel would fall in themiddle of the market side on the continuum. Pure PureCommand Market
  10. 10. Saudi Arabia(1) What to produce?Saudi Arabia is theworld’s leadingproducer of oil. TheSaudi governmentcontinues to invest inindustrial production.They are a leader inpetrochemicals,mining, and refining.
  11. 11. Saudi Arabia (2) How to produce?• Over 95% of the oil industry in the country is operated by the government. Most other major industries have significant government involvement.• Saudi Arabia relies heavily on specialized labor from other countries. Estimates are that a third of the labor force falls in this category.• Since the 1980s, the Saudi government has been trying to increase private ownership of business and encourage more joint ventures with private foreign companies.
  12. 12. Saudi Arabia3) For whom to produce? • One third of Saudi Arabia’s GDP is based on exports to other countries. (This is due to the economy’s reliance on the oil sector.)
  13. 13. ic om o n msEc te S ys Saudi Arabia 64%Place on the continuum: Saudi Arabia would fallto the left of Israel on the continuum. Pure PureCommand Market
  14. 14. Turkey(1) What to produce?Turkey has a diversified economy withlarge service, manufacturing, andagriculturalsectors.
  15. 15. (2) How toproduce?Since the late1980s, Turkey hasgradually movedfrom agovernmentdirected economyto more privateenterprise.
  16. 16. (3) For whom to produce?One fifth of Turkey’s production isexported. The remainder isconsumed by domesticconsumers andthe government.
  17. 17. ic om o n msEc te S ys Turkey 62%Place on the continuum: Turkey would fall to the left of SaudiArabia and Israel on the market side of the continuum. Pure PureCommand Market
  18. 18. ic om o n ms IsraelEc te 68% S ys Turkey 62% Saudi Arabia 64% Pure PureCommand Market

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