Government Vocabulary
What is the term for a government ruled by a king or queen?
Monarchy
This country has a parliamentary democracy.
What is Israel?
Define economic specialization.
The process by which individuals or businesses concentrate on producing a limited range of goods or services.
What is a tariff?
A tax imposed on imported goods and services.
Name one factor that contributes to economic growth. .
Natural resources, capital, labor, technology, or entrepreneurship.
What is a government where the power is in the hands of a few people?
Oligarchy
This country is ruled by a hereditary monarchy.
What is Saudi Arabia?
Give an example of a country specializing in oil production.
What is Saudi Arabia?
Name a non-tariff barrier to trade.
Quotas, embargoes, sanctions, or import licenses.
How does investment in education affect economic growth?
It improves the skills and productivity of the workforce, leading to economic growth
Define democracy.
A form of government in which the people have the authority to choose their governing legislation.
In this country, the President has considerable executive powers.
What is Turkey?
How does specialization benefit international trade?
It allows countries to produce what they are best at and trade for what they need, increasing efficiency and economic growth.
what is a trade embargo?
A government order that restricts commerce with a specified country or the exchange of specific goods.
What role does technology play in economic growth?
It increases productivity and efficiency, allowing for more goods and services to be produced with the same resources.
What is the term for a government where a single person holds absolute power?
Dictatorship
This country’s legislature is called the Knesset.
What is Israel?
What is a major risk of economic specialization?
Dependence on one product or service can be risky if demand or prices fall.
How can trade barriers protect domestic industries?
By making imported goods more expensive, encouraging consumers to buy domestic products.
Why is stable government important for economic growth?
It provides a predictable environment for businesses and investors, reducing risks and encouraging investment.
What does "theocracy" mean?
A system of government in which priests rule in the name of God or a god.
This country underwent a significant shift from parliamentary democracy to a presidential republic in 2018
What is Turkey?
ow does specialization affect a country's workforce?
It can lead to the development of skilled labor in specific industries but may limit workers' abilities to transition to other fields.
What is the downside of trade barriers?
They can lead to higher prices for consumers and can provoke retaliation from other countries.
How can infrastructure improvements boost economic growth?
By enhancing transportation, communication, and utilities, infrastructure improvements make it easier and cheaper to conduct business.