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government my study

my study tool

TermDefinition
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
Created by: user-1684464
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