Responses
Their economies would improve as the price of oil rose and jobs in the oil industry were created.
Their economies would improve as the price of oil rose and jobs in the oil industry were created.
Their economies would suffer as the price of oil went up and their profits went down.
Their economies would suffer as the price of oil went up and their profits went down.
Their economies would suffer as other countries bought less of the oil that Saudi Arabia and Iraq produce.
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 their economies are very diverse.
1 answer
The most accurate response to how the economies of Saudi Arabia and Iraq would be affected if people in other countries stopped using as much oil as they do today is:
Their economies would suffer as other countries bought less of the oil that Saudi Arabia and Iraq produce.
Both countries are heavily reliant on oil exports as a primary source of revenue, and a decrease in global demand would likely lead to a decline in oil prices and reduced economic growth.
