GRADE-9 UAE SST ECONOMIC POLICY IN THE UAE

Key Vocabulary:
Economic Policy- Economic policy refers to the actions that government take in the economic
field such as production, consumption and sharing of wealth.
OPEC - Organization of Petroleum Exporting Countries.
GCC - The Gulf Cooperation Council - A political and economic union of Arab states bordering
the Gulf.
Answer the following:
1. What is GDP?
Ans. Value of all final goods and services produced in a country during a particular year.
2. What is GNI- GNI is Gross National Income converted to international dollars using
purchasing power parity rates.
3. Which country has emerged as the major trading hub of Middle East?
Ans. UAE
4. How UAE has become a role model for GCC countries?
Ans. UAE has become a role model due to the diversification of economy.
5. What provided the base for modernisation of economy in UAE?
Ans. Oil and gas reserves.
6. Which industry provides higher share of GDP in UAE?
Ans. Extractive industries including crude oil and natural gas.
7. Examine the faces of Diversifying economy of UAE.
 Extraction of crude oil and natural gas
 Construction
 Real estate
 Repair services
 Manufacturing
 Business services
 Wholesale and retail trade
8. What are the reason for UAE’s robust economy?
 Consistent government spending
 Progressive policy of economic diversification
 Free zones
 Increased foreign investment.

9. Describe the Emirates Science, Technology and Innovation Higher Policy.

 Ans. In November 2015, H. H. Sheikh Khalifa bin Zayed Al Nahyan announced the
adoption of the Emirates Science, Technology and Innovation Higher Policy which
includes 100 national initiatives with an investment budget of over AED300 billion.
 It initiates investments in education, health, energy, transport, space and water.
 It includes fields such as robotics, solar power, developing intellectual property, stem cell
research and bio technology.

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