What do we call a government ruled by religious leaders?
Theocracy
Which country has a parliamentary democracy?
Israel
What does it mean when a country specializes in making certain things?
It focuses on making specific products well.
What is a tariff?
A tax on goods from other countries.
What are the four things that help a country grow economically?
Natural resources, skilled workers, good tools, and new businesses.
What kind of government lets people vote for their leaders?
Democracy
Which country has a presidential democracy?
Turkey
Why do countries specialize?
To trade for things they need but don't make.
What is a quota?
A limit on how much of something can be brought into a country.
Why are skilled workers important?
They make better products and new ideas.
What is a monarchy?
A government ruled by a king or queen.
Which country has a king with total power?
Saudi Arabia
What does Saudi Arabia specialize in?
Oil production
What is an embargo?
A complete stop to trade with a country.
How do good tools and machines help the economy?
They make work faster and better.
What does an autocratic government mean?
One person has total power.
In which country does the king have the most control?
Saudi Arabia
How does specialization help a country?
It makes trade easier and more efficient.
How do trade barriers affect a country's economy?
They make goods cost more and reduce trade.
Why do natural resources matter for an economy?
They give materials for making and selling things.
What is the difference between a parliamentary democracy and a presidential democracy?
In a parliamentary democracy, the legislature picks the leader; in a presidential democracy, people vote directly for the leader.
Which two countries let people vote for their leaders?
Israel and Turkey
What is the downside of specialization?
A country depends on others for goods it doesn't make.
Why might a country use an embargo?
To punish another country or for political reasons.
What do entrepreneurs do for the economy?
They start businesses and create jobs.