Government Vocabulary
utmost authority in decision-making and in maintaining order of a state.
Sovereignty
What challenge does Saudi Arabia face?
cyber resilience
What is an example of specialization?
, a country can produce bananas at a lower cost than oranges, it can choose to specialize and dedicate all its resources to the production of bananas, using some of them to trade for oranges.
What are the problems with trade barriers?
a tariff–a tax on imports
What are the factors determining economic growth?
natural resources, capital formation, technological progress, entrepreneurship, human resource development, population growth and social overheads.
basic principle of American government, which states that government is restricted in what it may do, and each individual has rights that government cannot take away; see constitutionalism, popular sovereignty.
Limited government
What type of government is followed in Saudi Arabia?
Constitution.
What is your specialization interview question?
explain how the specialisation matches your strengths, skills, or past academic achievements.
How do trade barriers affect the economy?
obstruct free trade, favor rich countries, limit choice of products, raise prices, lower net income, reduce employment, and lower economic output.
What four factors 4 are responsible for economic growth?
land, labor, capital, and entrepreneurship
system of government in which public policies are made by officials selected by the voters and held accountable in periodic elections; see democracy.
Representative Government
How is Saudi Arabia's government run?
a monarchy based on Islam
What is a problem with specialization?
opportunities for broader learning and personal growth might diminish.
What are the 3 most common barrier to trade?
tariffs, quotas, and other non-tariff barriers.
What will determine economic growth?
Increases in capital goods, labor force, technology, and human capital.
basic principle of American system of government that the executive, legislative, and judicial powers are divided among three independent and coequal branches of government.
Separation of power
What type of law does Saudi Arabia follow?
traditional Islamic law, also referred to as Sharia.
What are some examples of specialization in real life?
Fast food chains, law firms, education, video-game development and programming, medicine and manufacturing
What causes problems with trade?
The most significant cause of the trade deficit is the low rate of U.S. domestic savings by households, firms, and the government relative to its investment needs.
What are the three 3 factors needed for economic growth?
more capital, more labor, and better use of existing capital or labor.
a provision of the U.S. Constitution that states that the Constitution, federal law, and treaties of the United States are the “supreme Law of the Land”.
Supremacy Clause
What are citizens' rights in Saudi Arabia?
restricts almost all political rights and civil liberties.
Which provides the best example of specialization?
An assembly line for a manufacturing company
What causes problems with trade?
The most significant cause of the trade deficit is the low rate of U.S. domestic savings by households, firms, and the government relative to its investment needs.
What are the main determinants of economic growth?
Factor Accumulation.