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Types of Gov Econ

Terms on Types of Governments and Economies

Traditional Economy the people stick to their beliefs, many times they aren't modern
Market economy Supply and demand control market
Command economy Market is regulated by government
Mixed economy Free enterprise with some government control
federal system national, state, local levels of government share power
confederal system independent states join together
Government the organization that is the governing authority of a political unit
Direct Democracy When the citizens vote on issues themselves
Oligarchy A small group of people rule
Parliamentary Democracy When citizens elect their representatives, and they vote vote for Prime Minister; citizens vote INDIRECTLY
Monarchy Someone gains power hereditarily
Dictatorship Someone takes power for themselves
Representative Democracy The people elect leaders to run the government for them
Communism (Economy) The government owns and controls production
Capitalism An economic system where the market is controlled by the forces of supply and demand
Theocracy The government is controlled by religious leaders
Totalitarian (Political) The government has complete control over society
Created by: dsalvucci
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