As a result of their large oil supplies many Middle Eastern economies rely on what in oder to grow?
A) automobile manufacturing
B) government regulations
C) exports
D) tariffs
I'll be glad to check your answer.
Exports
The correct answer is C) exports. Middle Eastern economies, particularly those with large oil supplies, heavily rely on exporting oil and petroleum-based products to generate economic growth. Oil exports serve as a significant source of revenue for these countries, allowing them to invest in various sectors such as infrastructure, healthcare, education, and tourism. This reliance on oil exports can often make these economies vulnerable to fluctuations in global oil prices.
To arrive at this answer, you could consider the various factors associated with Middle Eastern economies and analyze the role of oil in their overall economic structure. Factors such as the region's abundant oil reserves, the importance of oil as a primary industry, and the contribution of oil exports to their GDP can help in recognizing that exports, specifically oil exports, are crucial for their economic growth.