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government my study
my study tool
Term | Definition |
---|---|
republic | voters elect leaders to make the decisions |
democracy | voters get to make the decisionss |
monarchy | hereditary leadership the passes from generation to generation with titles like king and queen |
dictatorship | the leader took power without an election usually by force |
oligarchy | a small group usually powerful and rich that make decisions |
theocracy | a government lead by a religion leader |
communism | in theory a form of government and economics that would promote equality in practice a form of dictatership. |
mixed economy | some decisions are made by the government while other decisions are mad by producers and consumers |
voluntary trade | trade between buyer and sellers |
international trade | trad between countries |
industrialization | development of manufacturing in a country |
suffrage | the right to vote |
command economy | government makes all the economics decisions |
market economy | producers and consumers make all the decisions(decisions are based on the supply and demand) |
traditional economy | economy based on historical practice and time honored beliefs |
human capital | the value of the skill a person possesses |