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posted Nov 4, 2013, 2:27 PM by Unknown user

Middle East Current Event

Colin Kerivan

In the last few months Iran has been in a great depression. The citizens have been working hard to try to earn enough just to survive. They are trying to become a new world power. They are arguing with the other world powers to become one.

This links to our economics unit, because the citizens are trying to answer the three economic questions for a business. What to produce, how to produce it, and for whom to produce it to.

SS7E5 The student will analyze different economic systems.

a. Compare how traditional, command, and market economies answer the economic questions of (1) what to produce, (2) how to produce, and (3) for whom to produce.

b. Explain how most countries have a mixed economy located on a continuum between pure market and pure command.

c. Compare and contrast the economic systems in Israel, Saudi Arabia, and Turkey.