Economic Influences of Southwest Asia

What type of economic system does Israel have in terms of free vs. command economy?

70% free and 30% command.

Which sectors contribute significantly to Israel's economy?

Technology, tourism, and agriculture sectors.

Who primarily owns the land in Israel?

The government.

What industries does the Israeli government control?

Electric, natural gas, aerospace industries.

What does the Israeli government control in addition to industries?

Prices on food and banking.

Which private sector is significant for Israel's economy?

Successful tech companies.

What percentage of the economy in Saudi Arabia is free?

64% free and 36% command.

What major industry does the Saudi government control?

The oil industries.

What percentage of Saudi Arabia's revenue comes from the oil industry?

87% of the country’s revenue.

What is the world's largest natural gas and oil company?

Saudi Aramco.

What percentage of Saudi Arabia's exports does Saudi Aramco account for?

90% of Saudi Arabia’s exports.

What is Turkey's economic structure in terms of free vs. command economy?

65% market and 35% command.

What are some private companies present in Turkey's economy?

Textiles, automobiles, petrochemicals, and electronics.

What is a key feature of Turkey's economy in Southwest Asia?

Turkey has the largest, or most versatile, economy.

What is OPEC's primary goal?

To regulate the price of oil.

Name five member countries of OPEC.

Saudi Arabia, Iran, Iraq, Kuwait, and Venezuela.