Question

In Saudi Arabia, roughly 95% of the country's oil production is controlled by the government. This would suggest that most of Saudi Arabia is a ___ economy.
A) Market
B) Command
C) Traditional
D) Free Market

Answer 1

Plz help

Answer 2

Do you know what market economy, command economy, traditional economy and free market economy mean?

Answer 3

I was thinking the answer was C

Answer 4

i guess it would be command as because the saudi royal family controls the country and wishes to maintain control.

Answer 5

A traditional economy is an original economic system in which traditions, customs, and beliefs shape the goods and the services the economy produces, as well as the rules and manner of their distribution. It's very useful in all countries to provide goods for others.

Answer 6

Choice c is incorrect

Answer 7

A command economy, or a planned economy, is where the big decisions are made at the centre by the government. In an economic system the main decisions are, for example, allocating resources like labour, capital and oil. Prices, too, are controlled.

Answer: B

Answer 8

Thanks!

Answer 9

Your welcome

Answer 10

._.