click below
click below
Normal Size Small Size show me how
Government YWLA 6th
Question | Answer |
---|---|
Monarchy | A system of government in which one person reigns, usually a king or queen. The authority, or crown, in a monarchy is generally inherited. |
oligarchy | A system of government in which power is held by a small group. |
tyranny | the government or rule of a tyrant or absolute ruler, usually abusive, unjust, oppressive |
democracy | A system of government in which power is vested in the people, who rule either directly or through freely elected representatives. |
limited government | A government that has limited powers over people as set in laws and in a constitution |
unlimited government | a government that has unlimited powers and does not have laws or a constitution to protect the people |
free enterprise | an economic and political belief that a capitalist economy can regulate itself in a freely competitive market through the relationship of supply and demand with minimum government intervention and regulation. |
import | to bring in (merchandise, commodities, workers, etc.) from a foreign country for use, sale, processing, reexport, or services. |
export | to ship (merchandise, commodities, workers, etc.) to other countries or places for sale, exchange, etc |
supply | the quantity (total) of a commodity (shirts, cotton, glass, milk,etc) that is in the market and is available for purchase at a particular price |
demand | the desire to purchase, coupled with the power to do so. the amount of commodity (goods) that buyers will take at a particular price. |
consumer | a person or organization that buys commodities (shirts, cotton, glass, milk, etc) |
profit | money made from the sale of a commodity or service |