Normal Size Small Size show me how
Chpt 3 Sec 2
Political and Economic Systems
|a nation's freedom from outside control
|a system of government in which one central government holds most of the political power
|Federalism (federal system). Different levels of governments (Federal, state, local) like the United States system. Powers are structured and shared.
|Separate nations or states that kinda sorta work together. Example: European Union.
|a system of government in which the leaders hold all political power
|a system of government in which absolute power is held by a small group or one person
|a system of government in which a central authority controls all aspects of society
|a system of authoritarian government. Rule by a royal family - whose position is usually inherited
|a system of government in which the people are invested with the power to choose their leaders and determine government policy
|an economic system in which families produce goods and services for their own use, with little surplus and exchange of goods;also known as a subsistence economy
|an economic system in which decisions about production, price, and other economic factors are determined by the law of supply and demand
|All production decisions are controlled by the government (a central planning agency tells companies what to make, and how much to produce). Examples: former Soviet Union, North Korea
|a combination of economic activities. Some free market and some command economies. United States is an example.
|Consumers free to buy anything; produces are free to make any product
|Representative Democracy - Democracy carried out by elected leaders (people vote)