Government and Economics

Anything that is used to produce goods or services

What is an economic system in which people choose freely what to buy and sell?

A limit on trade

A government ruled by the people

Another term for work

An economic system in which the government makes all economic decisions.

A form of government in which citizens choose their leaders by voting

A system in which power is divided between the national and state governments; shared power

What is it called when most powers are given to the national or central government?

Government ruled by one person

A tax on trade or imported goods

Ruled by a small group of people

A government ruled by a king or queen

Exchange of goods and services

Form of government in which people vote for the legislative body. Prime Minister is then chosen

Resources like machines, factories, computers, and money

A person who risks time and money to start and manage a business

A political system in which the government owns all property in a country.

A combination of a command and market economy

A government controlled by religious leaders