The Modern Middle East

question 63

Multiple Choice

The modern Middle East

• A) has achieved considerable stability thanks to the vast amounts of oil which will result in the long run in creating a prosperous and peaceful society.
• B) has, outside of Israel, reached a satisfactory agreement regarding the role of religion in civil society.
• C) is culturally united in matters of religion and politics, with only the existence of an independent Israel being a continuing irritant to social peace and stability.
• D) will undoubtedly achieve a religious and social consensus in favor of "moderate" Islam and its beliefs and practices.
• E) is experiencing an ethnic identity conflict between nationalism and the desire to be part of a broader Islamic community.

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Definitions:

Salt Monopoly

A situation where a single entity controls the supply and pricing of salt, historically seen as a strategic control over a vital commodity.

Economic Profits

Profits earned by a firm or individual in excess of the opportunity costs of all resources used to generate those profits, representing returns beyond the normal profit level.

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, perfect information, and easy entry and exit from the market.

Monopoly

A market structure characterized by a single seller offering a unique product or service, with significant barriers to entry for potential competitors.