SW Asias Factors of Economic Growth Comprehension Check

SW Asia’s Factors of Economic Growth Comprehension Check 1. The total value of goods and services produced in one year is called: 2. What does gross domestic product measure? 3. Israel’s GDP per Capita is about $35, 000 while Turkey’s is about $20, 000. What can you infer about the standard of living in Turkey compared to Israel? 4. GDP per capita shows how much gross domestic product each _______ produced in a year. 5. Give an example for each category of productive resources in Southwest Asia: • Natural Resources • Capital Goods • Human Capital • Entrepreneurship 6. Which productive resource can be a source of income when exported? 7. Which natural resources are NOT found in Southwest Asia: freshwater, minerals, forests, arable land? 8. How has an abundance of mineral resources impacted Saudi Arabia’s economic growth? 9. Turkey invests 3 percent of its GDP into education for its citizens—which productive resource is this an example of? 10. Israel’s literacy rate is 99%. What does this mean? © Brain Wrinkles

SW Asia’s Factors of Economic Growth Comprehension Check 11. Explain how the literacy rate ties into a country’s standard of living: 12. Based on what you know about literacy rates, which country probably has the highest standard of living—Israel or Turkey? Explain. 13. Do you think these Southwest Asian countries’ investments in human capital (education, job training, etc. ) are having a positive impact on their economies? Explain. 14. When a country invests in new machinery, technology, and factories, it is increasing its: 15. Write a statement that describes the relationship between a country’s investment in capital goods and its GDP: 16. Israel has more start up companies than any country in the world. In what ways has entrepreneurship benefited the country? 17. Overall, starting a new business in Israel and Saudi Arabia is (easier/harder) than the world average. © Brain Wrinkles