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Political/Economic
Tresky Political/Economic terms
Political or Economic System | Description |
---|---|
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 |