How would the economies of Saudi Arabia and Iraq be affected if people in other countries stopped using as much oil as they do today?

Question

(1 point)
• Their economies would suffer as the price of oil went up and their profits went down.
• Their economies would improve as the price of oil rose and jobs in the oil industry were created.
• Their economies would suffer as other countries bought less of the oil that Saudi Arabia and Iraq produce.
• Their economies would not be seriously affected because they are very diverse.

Answer 1

Their economies would suffer as other countries bought less of the oil that Saudi Arabia and Iraq produce.