parliamentary democracy - Israel, democracy where the prime minister is picked from the legislature, presidential democracy - Turkey, democracy where the president is elected by the people in some way, absolute (autocratic) monarchy - Saudi Arabia, monarchy where leader is chosen by the Saudi royal family, Knesset - Israeli unicameral legislature, Grand National Assembly - Turkey unicameral legislature, mixed economy - a mixture of command and market economy, most of the world's economies are this including Israel, Saudi Arabia, Turkey, blockade - a country surrounds another country to keep it from trading, embargo - a country refuses to trade with another country, quota - a country puts a limit on the number of imports, tariff - a country puts a tax on imports, currency - type of money a country uses, diversified - spreading out interests and not focusing on one area, GDP (Gross Domestic Product) - total amount of goods and services made in a year for a country, GDP per capita - GDP divided by country population, OPEC (Organization of Petroleum Exporting Countries) - Countries (mainly from the Middle East) control the price of oil., privatization - changing businesses from government control to private ownership, scarcity - wants exceed available resources, not enough, specialization - focusing skills, money, and resources into one area to lower cost and make production more efficient,

SW Asia Government & Economy

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