Economics in the Middle East. Economics. The three basic questions that all economic systems must answers are: What to produce? How to produce it? For whom to produce for?. Types of Economies in the Middle East. Mixed-Market. Command. Market. SOME government involvement
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SOME government involvement
(ex: health care, postal service, free education, etc.)
Government has complete control over what is produced, how it is produced, and who (and how much of it) it is produced for)
Israel has had 2 challenges in creating a mixed marketeconomy:
Israel has the most diversified (wide variety) economy in the Middle East.
oil was discovered and changed
to acquire the necessary skills to join the
workforce in Saudi Arabia.
several embargoes against Iran
because of their involvement with
was charge of their government.