Question

Based on Adam Smith’s thesis, in future the economy of KSA needs

□     more government interference                       □     less government interference

□     more market-based solutions                         □     less market-based solutions

Q2.      Please identify the two principal drivers that currently drive the economy of Saudi Arabia.

□     Government Sector                                        □     Petrochemical Sector

□     Tourism Sector                                               □     Oil Sector

□     Automotive Sector                                          □     Agriculture Sector

Answer 1

1. The correct answer for this question is option c). More market based solutions.

The Saudi Arabia's economy is generally relied completely on Oil productions which is also good for the future genration in Saudi Arabia. Also at the same time, the government has decided to privatise most of its resources so that Saudi Arabia can become an open economy.

And option B) is also correct. The KSA needs less government intereference. The reason is same as of option C).

2. The correct answer is Option A) government sector ,B) petrochemical sector and d) oil sector.

These are sectors which are currently running the economy of Saudi Arabia. The government has a strong control over all the other sectors in the economy.