Delegating short answer grading to automated systems enhances efficiency, giving teachers more time for vital human-centered aspects of education. Studies in automatic short answer grading (ASAG) approach the problem from instance-based or reference-based perspectives. Recent studies have favored instance-based methods, but they demand substantial data for training, which is often scarce in classroom settings. This study compares both approaches using an Arabic ASAG dataset. We employ in-context meta-learning for instance-based and semantic score-based similarity for reference-based grading. Results show both methods outperform a baseline and occasionally even surpass human raters when grading unseen answers. Notably, the semantic score-based similarity approach excels in zero-shot settings, outperforming in-context meta-learning. Our work contributes insights to Arabic ASAG and introduces a prompt category classification model, leveraging GPT3.5 to augment Arabic data for improved performance.