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Ch. 3 Vocab. test
ECS 7th grade-Types of goverments and economic systems
Question | Answer |
---|---|
Sovereignty | A country's freedom and power to decide on policies and actions. |
Unitary | One central government holds most of the political power. |
Federal | Relating to a union of states that recognize a single central government but retain certain powers for themselves |
Confederation | Individual political units keep their sovereignty but give limited power to central government. |
Authoritarian | One person (a dictator) holds all political power. |
Dictatorship | One person holds absolute power. |
Totalitarianism | A central authority controls all aspects of society. |
Monarchy | Authoritarian goverment headed by a monarch, whose position is usually inherited. |
Constitutional Monarchy | Monarch plays a SYMBOLIC role while real political power restes with an ELECTED law making body. |
Democracy | The people help to choose their leaders and elected representatives and determine goverment policy based on the will of the MAJORITY. |
Capitalist | ECONOMIC system where means of production are controlled by PRIVATE individuals or corporations. |
Market Economy | ECONOMIC system where most goods and services are produced and distributed through the FREE MARKET. |
Communism | System where the GOVERMENT controls the means of PRODUCTION in every aspect. |
Socialism | System where the GOVERNMENT OWNS, manages or controls the production, distribution, or exchange of goods in basic industries. |