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Southwest Asia Econ

Southwest Asia Econ. Turkey. Developed and a mixed economy Encourages private investment & has growing private sector Government regulates: banks, transportation, communications Industries: textile, oil, iron, steel, food chemicals, machinery products World’s top 10 for agricultural output.

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Southwest Asia Econ

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  1. Southwest Asia Econ

  2. Turkey • Developed and a mixed economy • Encourages private investment & has growing private sector • Government regulates: banks, transportation, communications • Industries: textile, oil, iron, steel, food chemicals, machinery products • World’s top 10 for agricultural output

  3. Iran • Mixed economy • State owns nation’s oil & gas • Service industry, mining, agriculture and manufacturing • modernizing

  4. Saudi Arabia • Oil • Finance & manufacturing • Lots of government control • 5-6 million foreign workers play role in economy

  5. Israel • Because of US aid one of the most developed • Mixed economy • Lacks natural resources • Has petroleum, food & weapons • Hi-tech industry growing also electronics, biomedical

  6. Economic Growth • OPEC – organization of petroleum exporting countries • Persian Gulf – ports & access to shipping routes • Tigris & Euphrates River • Barrier – terrain & access to water

  7. Question • The economies of Israel, Saudi Arabia, Iran, and Turkey can all best be described as… • Command economies • Market economies • Socialist economies • Mixed economies

  8. Question 2. Deserts on the Arabian Peninsula, rugged mountains in Afghanistan and Iran, and the lack of rivers in much of Southwest Asia are examples of • Natural trade barriers • Natural resources • Political trade barriers • Economic development

  9. Writing • Describe OPEC and its purpose

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