Determine whether each statement describes Israel, Saudi Arabia, or Turkiye’s economies and governments. Some descriptions may apply to more than one country.

Statement

Israel Saudi Arabia Turkiye
Production of goods and services and their prices are based on supply and demand.


Citizens and businesses decide very little.


The government is selling shares to the state petroleum company.


The government controls most of the country’s land, prices of food, and banking services, as well as electric, natural gas, and aerospace industries.


The government controls mining, banking, and transportation industries, as well as, sets price on some agricultural products as well as electricity.


The government controls the oil industry, but has started working with private companies to grow many industries.

1 answer

Let's analyze each statement based on the characteristics of the economies and governments of Israel, Saudi Arabia, and Turkiye.

  1. Production of goods and services and their prices are based on supply and demand.

    • Israel: Yes, this describes Israel's market economy, which is primarily based on supply and demand.
    • Saudi Arabia: Partially, as the government has significant control over the economy, especially in the oil sector, but there are aspects of supply and demand at play in other sectors.
    • Turkiye: Yes, Turkiye has a market-based economy where supply and demand influence prices, though the government has some control over certain sectors.
  2. Citizens and businesses decide very little.

    • Israel: No, citizens and businesses have considerable decision-making power in the economy.
    • Saudi Arabia: Yes, the government has substantial control over the economy, limiting the decision-making power of citizens and businesses.
    • Turkiye: Partially; while there is some decision-making power, the government does have substantial intervention in various sectors.
  3. The government is selling shares to the state petroleum company.

    • Israel: No, this does not apply to Israel.
    • Saudi Arabia: Yes, the Saudi government has been selling shares of Aramco, the state oil company.
    • Turkiye: No, this does not apply to Turkiye.
  4. The government controls most of the country’s land, prices of food, and banking services, as well as electric, natural gas, and aerospace industries.

    • Israel: No, while the government has some control, it does not control most sectors in this manner.
    • Saudi Arabia: Yes, the government controls significant portions of these services and industries.
    • Turkiye: Partially; the government has involvement in various sectors but does not control all listed aspects to the same extent as Saudi Arabia.
  5. The government controls mining, banking, and transportation industries, as well as sets the price on some agricultural products as well as electricity.

    • Israel: No, the government does not control these sectors to this extent.
    • Saudi Arabia: Yes, the government plays a significant role in these industries.
    • Turkiye: Partially; while the government has some control in these areas, it doesn’t exert total control as described for Saudi Arabia.
  6. The government controls the oil industry but has started working with private companies to grow many industries.

    • Israel: No, Israel does not have a substantial oil industry.
    • Saudi Arabia: Yes, the government controls the oil industry and has been diversifying its economy by working with private enterprises.
    • Turkiye: Partially; while Turkiye’s government influences the energy sector, it is not at the same level of state control as Saudi Arabia's oil industry.

Summary Table:

| Statement | Israel | Saudi Arabia | Turkiye | |---------------------------------------------------------------------------|--------|--------------|---------| | Production of goods and services and their prices are based on supply and demand. | ✔️ | ✔️ | ✔️ | | Citizens and businesses decide very little. | ❌ | ✔️ | ⚠️ | | The government is selling shares to the state petroleum company. | ❌ | ✔️ | ❌ | | The government controls most of the country’s land, prices of food, and banking services, as well as electric, natural gas, and aerospace industries. | ❌ | ✔️ | ⚠️ | | The government controls mining, banking, and transportation industries, as well as sets price on some agricultural products as well as electricity. | ❌ | ✔️ | ⚠️ | | The government controls the oil industry but has started working with private companies to grow many industries. | ❌ | ✔️ | ⚠️ |

(Note: "⚠️" indicates partial applicability.)

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