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Quarter 4
Government & Economic Systems
| Term | Definition |
|---|---|
| Republic | A state in which supreme power is held by the people and their elected representatives, rather than a monarch |
| Democracy | A system of government where power is vested in the people, exercised directly or through elected representatives |
| Federal State | A system of government where power is divided between a central authority and constituent political units (like states) |
| Parliamentary | A system where the executive branch derives its legitimacy from and is accountable to the legislature |
| Constitutional Monarchy | A system of government where a monarch acts as head of state within the parameters of a written or unwritten constitution |
| Totalitarian | A system of government that is centralized and dictatorial, requiring complete subservience to the state |
| Dictatorship | Government by a dictator (see above) |
| Authoritarian | A government that concentrates power in the hands of a leader or a small elite not constitutionally responsible to the body of the people |
| Fascist | A political system of right-wing authoritarianism (see above) |
| Oligarchy | A small group of people having control of a country, organization, or institution |
| Capitalism (West) | An economic system based on private ownership of the means of production and their operation for profit |
| Communism (East) | An economic system aimed at a classless society where the means of production are commonly owned |
| Socialism (both) | An economic system where the means of production are owned or regulated by the community or state |
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