Government Vocabulary
A system of government where citizens can vote for leaders and laws.
what is a democracy?
This country is a parliamentary democracy.
What is Israel?
When a country focuses on producing one or a few goods efficiently.
What is specialization?
A tax placed on imported goods to encourage domestic production.
What is a tariff?
The education, training, and skills of a workforce.
What is human capital?
A government ruled by a king or queen.
what is a monarchy
This country has a president and a parliament but still has a strong leader.
What is turkey?
Countries specialize because it allows them to do this more efficiently.
What is produce goods at a lower cost?
A complete ban on trade with a country for political or economic reasons.
What is an embargo?
The total value of all goods and services a country produces in a year
What is Gross Domestic Product (GDP)?
A government based on religious law.
What is a theocracy?
A king rules this country.
What is Saudi Arabia?
Saudi Arabia specializes in this industry because of its vast natural resources.
What is oil production?
A limit on the number of imported goods allowed into a country.
What is a quota?
The process of starting new businesses and introducing innovations in an economy.
What is entrepreneurship?
A government where one person has absolute power and citizens have little to no rights.
What is an autocracy?
This country has the most religious influence on its government.
What is Saudi Arabia?
Specialization affects trade because countries must do this to get goods they don’t produce.
What is engage in trade with other countries?
Countries use trade barriers for this main reason.
What is to protect domestic industries?
Investing in capital goods, like machinery and technology, helps a country’s economy by doing this.
What is increasing productivity and efficiency?
A system where the executive leader is chosen by the legislature.
What is a parliamentary system?
This country has the highest level of citizen participation in government.
What is Israel?
If a country does not specialize, it may struggle with this economic consequence.
What is inefficiency and lower productivity?
A punishment in the form of trade restrictions placed on a country by other nations.
What is a sanction?
Countries with abundant natural resources experience this advantage in economic growth.
What is increased trade and wealth?