MIDDLE EAST ECONOMIES

Top of page 29 above the margin  SS7E5b.c.  b. Explain how most countries have a mixed economy located on a continuum between pure market and pure command  c. Compare and contrast the economic systems in Israel, Saudi Arabia, and Turkey  SS7E7c.  C. Explain the role of oil in these countries economies

Top of Page 29 on lines Write the question and answer. What is 1 product the Middle East exports?

Israel  Type of Economy: Mixed  Market  GDP: $242.9 billion  GDP Per Sector: Agriculture: 2.5 % Industry: 31.1% Service: 64.9 %  Per Capita GDP: $31,400  Country Rank: 41

Israel  Jobs:  Labor Force by Occupation: Agriculture: 2% Industry: 16% Service: 82%  Oil:  Oil Production: 4,029 bbl/day Country Rank: 99  Oil Consumption: 238,000 bbl/day Country Rank: 51

Israel  Literacy Rate:  Total: 97.1%  Men: 98.5%  Women: 95.9%  Levels of Education:  Total: 15 years  Men: 15 years  Women: 16 years

Saudi Arabia  Type of Economy: Mixed  Command  GDP: $577.6 Billion  GDP Per Sector: Agriculture: 2 % Industry: 69.1% Service: 28.9%  Per Capita GDP: $24,500  Country Rank: 55

Saudi Arabia  Jobs:  Labor Force by Occupation: Agriculture: 6.7% Industry: 21.4% Service: 71.9%  Oil:  Oil Production: billion bbl/day Country Rank: 1  Oil Consumption: million bbl/day Country Rank: 6

Saudi Arabia  Literacy Rate:  Total: 86.6%  Men: 90.4%  Women: 81.3%  Levels of Education:  Total: 14 years  Men: 14 years  Women: 13 years

Turkey  Type of Economy: Mixed  Market  GDP: $778.1 billion  GDP Per Sector: Agriculture: 9.3% Industry: 28.1% Service: 62.6%  Per Capita GDP: $14,700  Country Rank: 86

Turkey  Jobs:  Labor Force by Occupation: Agriculture: 25.5% Industry: 26.2% Service: 48.4%  Oil:  Oil Production: 55,110 bbl/day Country Rank: 60  Oil Consumption: 646,300 Country Rank: 27

 Literacy Rate:  Total: 87.4%  Men: 95.3%  Women: 79.6%  Levels of Education:  Total: 12 years  Men: 12 years  Women: 11 years

Human Capital vs. Standard of Living  Relationship between investment in human capital and standard of living: Investment in Standard of Human Capital LivingHuman Capital Living

Capital Resources vs. Standard of Living  Relationship between investment in capital goods and standard of living: Investment in Standard Capital Goods of LivingCapital Goods of Living

Pure Pure Command Market Mixed