Government Vocabulary
What are the 3 basics of government?
legislative, executive and judicial
Does Turkey support Iran or Israel?
However, Turkey's neutral stance with regards to the disputes between Israel and Iran has secured the maintenance of friendly bilateral relations.
What are examples of specialization?
a country can produce bananas at a lower cost than oranges
What are the problems with trade barriers?
a tariff–a tax on imports
What are the factors affecting economic growth?
capital formation, technological progress, entrepreneurship, human resource development, population growth and social overheads
What are the first three words of the government?
We the People
Is Turkey an ally of the USA?
Turkey is a key NATO Ally and critical regional partner, and the United States is committed to improving the relationship between our two countries.
What is specialization and what is the main benefit of specialization?
greatly improves productivity – the ratio of inputs to outputs
How do trade barriers affect business?
obstruct free trade, favor rich countries, limit choice of products, raise prices, lower net income, reduce employment, and lower economic output
Why do we need economic growth?
people are likely to be feeling better off.
What is a smart word for government?
authority, law, ministry, politics, power, regime, rule, state, union
Does Saudi Arabia have taxes?
there is no personal income tax
What is a problem with specialization?
opportunities for broader learning and personal growth might diminish
Who benefits from trade barriers?
Economic reality: Trade barriers benefit some people—usually the producers of the protected good—but only at even greater expense of others—the consumers.
What economic factors affect?
economic growth, percentage of unemployment, inflation, interest and exchange rates, and commodity (oil, steel, gold, etc) prices
What is the vocabulary of limited government?
one where legalized force is restricted through delegated and enumerated authorities
Can Israelis visit Saudi Arabia?
In January 2020
What is the best example of specialization?
an old person's helper and care assistant
What are two disadvantages to trade barriers?
lower income, reduced employment, and lower economic output
Which factor drives economic growth?
Increases in capital goods, labor force, technology, and human capital
What is the vocabulary of representative government?
a form of government in which elected officials will represent, lead, and act on behalf of the citizens of a nation
Is Saudi Arabia an U.S. ally?
For over eighty years, the United States and the Kingdom of Saudi Arabia have enjoyed a strong relationship based upon mutual respect and common interests.
What is specialization in the workplace?
individuals and organizations focusing on the limited range of production tasks they perform best
How do barriers to entry affect the market?
deter new entrants from entering a market and protect the profits of existing incumbents
What factors slow down economic growth?
Government policies such as raising interest rates and taxes or reducing public spending