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Social Studies Vocab
Governments
| Term | Definition |
|---|---|
| Autocracy | A government in which the ruler has absolute power to do whatever he wishes and make and enforce whatever laws he chooses. |
| Confederation | A system in which the local government holds all of the power and the central government depends on the local government for its existencew. |
| Democracy | A political system in which the people play much greater role in deciding who the rulers are what decisions are made. |
| Federal Government | A political system in which the power is shared between the national and local governments, including executive, legislatlive , and judicial branches. |
| Federal Republic | A government in which elected individuals make decisions for the people. |
| Oligarchy | A system in which a political party or other small group takes over a government and makes all of the major decisions; government by a few. |
| Unitary | Local government such as state or country systems may have some power, but they are under the control of the central government. |
| Republic | A state in which the supreme power rests in the body of citizens entitled to vote. |
| Theocracy | A government in which God is seen as the true leader and religious leaders serve as the political leaders. |
| Parliament | The name given to the group of people elected to run a parliamentary system of government. |
| Parliamentary Democracy | A democratic form of government in which people vote for those who represent the political party they feel best represents their views of how the government should operate. |
| President | The chief administrator of a government. |
| Presidential Democracy | Sometimes called a congressional form of government; in this type of government a president is chosen to be the leader. |
| Prime Minister | The name given to the head of government ; chief executive of a parliamentary democracy. |
| Specialization | Those products a country makes best and that are in demand on the world market. |
| Quota | A way of limiting the amount of foreign good that can come into a country. |
| Embargo | A trade barrier in which one country announces that it will no longer trade with another country in order to isolate and cause problems with that country's economy. |
| Trade Barriers | Anything that slows down or prevents one country from exchanging goods with another. |
| Gross National Product | The value of all the final goods and services produced within a nation in a given year. |
| Tariff | A tax put on goods when they are brought into one country from another country. |
| Traditional Economy | An economy in which most of the economic decisions are made based on custom and on that habit of how on such decisions were made in the past. |
| Currency | Something used as a medium of exchange; money. |
| Entrepreneurship | Creative original thinkers who are willing to take risks to create new business es and products. |
| Capital Goods | The factories, machines, and technology that people use to make products to sell. |
| Command Economy | An economy in which a government planning group makes the most of the basic economic decisions for the workers. |
| Exchange Rate | A system of changing from one type currency to another. |
| Mixed Economy | A economy that has characteristics of both market and command economic systems. |
| Human Capital | The knowledge and skills that make it possible for workers to earn a living producing goods or services. |
| Market Economy | An economy in which a society's economic decisions are made by individuals who decide what to produce or what to buy. |
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