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Gov.+Economics Stack
| Term | Definition |
|---|---|
| Oligarchy | A small wealthy group the rules over a country. |
| Theocracy | A government lead by a religious leader. |
| Communism | A government where every thing is owned by the people |
| Anarchy | A government where nobody is in charge |
| Republic | A form of government where people elect leaders to help govern |
| Democracy | Voters get to help make decisions |
| Monarchy | A form of government that the king controls and is passed on in a hereditary form |
| Dictatorship | Where a person takes over and makes all of the decisions |
| Suffrage | The right to vote |
| Command Economy | Where the government makes all of the economic choices |
| Market Economy | A economy where the products and consumers make economic choices based on supply and demand |
| Traditional Economy | Economy based on historical practice and honored benefits. |
| Mixed Economy | Some choices are made by the government but most are made by the producers and consumers |
| Voluntary Trade | Trade between buyers and sellers with restriction based on there choices. |
| Human Capital | The value of a skills the person has. |
| International Trade | Trade between countries |
| Industrialization | Development of manufactured goods |
Created by:
Lilum
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