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Government & Economy

this it the study stack for soc

TermDefinition
industilization development of manufacturing in a country
republic voters elect leaders to make decisions
democrocy voters get to make all the decisions
monarchy leadership is passed down from gen to gen and are name king and queen
Dictatorship the leader took power by force so not a electron
oligarchy a small group usually powerful and rich that makes the dishions
theocracy the government is ran by a religious leader
communism form of Government & Economics that would promote equality in practice a from of dictatorship
anarchy society with no leader
mixed economy some decisions are made by the gov while other dishions are made by producers
international trade trade between countries
voluntary trade trade form buyer to seller
human capital the skill someone has and is valued
suffrage the right to vote
command economy government makes all the economic decisions
traditional economy economy based on historical practice and time honored beliefs
market economy producers and consumers make all the economic decisions that are based on supply and demand
Created by: Kc-
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