click below
click below
Normal Size Small Size show me how
Govern and Economy
Question | Answer |
---|---|
Republic | Voters elect a leader to make decisions. |
Democracy | Voters get to make the decisions. |
Monarchy | Hereditary leadership that passes from generation to generation, with titles like kings and queens. |
Dictatorship | The leader took power with an election, usually like force. |
Oligarchy | A small group, usually powerful and rich, that make the decisions/ |
Theocracy | A government led by a religious leader |
Communism | In theory, a form of government and economics that would promote equality. In practice, a form of dictatorship. |
Anarchy | A society with no leaders. |
Suffrage | The right to vote. |
Command Economy | Government makes all the economic decisions (production, price, etc.) |
Market Economy | Producers and consumers make all of the economic decisions. Decisions are based on supply and demand |
Traditional Economy | Economy based on historical practice and time-honored beliefs |
Mixed Economy | Some decisions are made by the government, while other decisions are made by producers and consumers (supply and demand) |
Human Capital | The value of skills a person possesses |
Voluntary Trade | Trade between buyers and sellers with restriction. It's based on their decisions |
international trade | Trade between countries |
Industrialization | Development of manufacturing (factories) in a country |