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Tresky Political/Economic terms

Political or Economic SystemDescription
Monarchy ruling families; kings and queens
Totalitarianism government controls every part of society (people's personal lives); Hitler and Nazi Germany
Democracy government where people choose their leaders and have the power to set government policy (United States)
Constitutional monarchy King or Queen with a lawmaking body such as Parliament (Great Britain)
Dictatorship power is concentrated in a small group of people or in one person; people are not free to express their opinions; military force or political terror is common
Command the state owns and controls everything; type of economy found in the former USSR
Mixed Market the state/government owns basic industries(transportation, banking)
Free Market the people decide what is going to be produced based on what they buy; producers are able to keep the profit; type of economy found in the United States
Created by: nchewning