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SWA Govt & Econ
SW Asia Government and EconomicsTest Study Guide
| Term | Definition |
|---|---|
| Autocracy | One person has total power |
| Oligarchy | A small group of people rule |
| Democracy | Citizens have the right to vote for their leaders |
| Presidential Democracy | Citizens vote for president; the president is both the head of state and head of government |
| Parliamentary Democracy | Citizens elect members to parliament, members of parliament select the prime minister; the prime minister is the head of government |
| Unitary | The central government has control |
| Confederation | Independent countries have the power and agree to give a little to the central government |
| Federal | Power is divided between federal, regional, and local governments |
| Theocracy | Government ruled by a religious leader |
| Absolute Monarchy | King or Queen has total power |
| Constitutional Monarchy | King or Queen's power is limited by a constitution |
| Head of Government | Leader of the government that runs the government |
| Head of State | Government leader that has ceremonial duties and little power |
| Dictatorship | One person rules by force, often relying on the military |
| Government in Saudi Arabia | Absolute Monarchy |
| Government in Israel | Parliamentary Democracy |
| Government in Iran | Islamic Republic (theocracy) |
| Distribution of Power in Israel | Unitary |
| Distribution of Power in Saudi Arbia | Unitary |
| Distribution of Power in Iran | Unitary |
| Citizen participation in Israel | Democracy |
| Citizen participation in Iran | Oligarchy |
| Citizen participation in Saudi Arabia | Autocracy |
| Head of Government in Israel | Prime Minister |
| Head of Government in Saudi Arabia | King |
| Head of Government in Iran | Ayatollah |
| GDP | Gross Domestic Product; the total value of goods and services produced in a country in a year |
| 4 Factors of Economics Growth | Entrepreneurship, human capital, capital goods, natural resources |
| Entrepreneurship | A person willing to risk their time and money in a new product or improved product |
| Human Capital | The value of a person's skills and education |
| Capital Goods | Goods used to make other goods |
| Natural Resources | Gifts from the Earth |
| Specialization | When countries focus on producing what they can produce easily and trade for what they need |
| Market Economy | Supply and demand determine what is produced, how much is produced, and for whom it is produced |
| Command Economy | The government determines what is produced, how much is produced, and for whom it is produced. |
| Traditional Economy | Traditions and customs determine what is produced, how much is produced, and for whom it is produced. |
| Mixed Economy | A combination of government and supply and demand control economic decisions |
| Scarcity | When there is not enough of a good |
| Surplus | When there is more than needed of a good |
| OPEC | Organization of Petroleum Exporting Countries; controls the price of oil in the world by controlling the supply |
| Export | Goods that are sent out of the country to another |
| Import | Goods that are brought into a country from another |
| Quota | A limit on imports |
| Tariff | A tax on imports |
| Embargo | A refusal to trade with a country |
| The higher the literacy rate.... | the higher the standard of living |
| Israel is specialized in... | cutting diamonds, technology, and minerals |
| Saudi Arabia and Iran specialize in.... | Oil and natural gas |
| How has not having natural resources impacted Israel's economy? | Israel has to spend a lot money importing natural resources. |
| How is OPEC able to control the price of oil in the world? | By controlling the supply |
| The higher the supply of oil.... | the lower the price. |
| The lower the supply of oil... | the higher the price. |
| Contrast parliamentary and presidential democracies. | Head of government in parliamentary is prime minister; in presidential it is presidential. Citizens directly elect the president, parliament chooses the prime minister. |
| Compare parliamentary and presidential democracies. | Citizens have the freedom to vote; 3 branches of government |
| Type of economy in Saudi Arabia | mixed towards market |
| Type of economy in Israel | mixed towards market |
| Type of economy in Turkey | mixed towards market |
| What are the 3 types of economic trade barriers? | Tariff, Quota, Embargo |
| How might a farmer in the US benefit from higher tariffs on agricultural products from another country? | The imported products will be more expensive, so the citizens will buy the US farmer's products |
| How does specialization encourage trade between countries? | Countries produce what they produce easily and trade for what they need |
| What is the purpose of OPEC? | To control the price of oil in the world by controlling the supply |
Created by:
MsBentley
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