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 linesWrite the question and answer.

What is 1 product the Middle East exports?

Israel Type of Economy: MixedMarket 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: MixedCommand 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: 10.52 billion bbl/day

Country Rank: 1 Oil Consumption: 2.643 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: MixedMarket 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 Investment in Standard of

Human Capital Living Human Capital Living

Capital Resources vs.Standard of Living

Relationship between investment in capital goods and standard of living:

Investment in Standard Investment in Standard

Capital Goods of Living Capital Goods of Living

Pure Pure

Command Market

Mixed