How would the economies of Saudi Arabia and Iraq be affected if people in other countries stopped using as much oil as they do today?
A.
Their economies would suffer as the price of oil went up and their profits went down.
B.
Their economies would improve as the price of oil rose and jobs in the oil industry were created.
C.
Their economies would suffer as other countries bought less of the oil that Saudi Arabia and Iraq produce.
D.
Their economies would not be seriously affected because they are very diverse.
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Its B
To determine how the economies of Saudi Arabia and Iraq would be affected if people in other countries stopped using as much oil, we need to understand the factors at play.
Both Saudi Arabia and Iraq heavily rely on oil exports as a significant source of revenue for their economies. Therefore, any decrease in global oil demand would have an impact on their economies.
If people in other countries stopped using as much oil as they do today, it would likely lead to a decrease in demand for oil. This would result in a decline in oil prices, affecting the profitability of oil-producing countries like Saudi Arabia and Iraq.
Given this information, the most logical answer would be:
A. Their economies would suffer as the price of oil went up and their profits went down.
This option suggests that the economies of Saudi Arabia and Iraq would be negatively impacted because a decrease in oil demand would drive down prices and reduce their profits.