Forms of Government & Economic Systems

parts of the economy are owned by the government and parts are owned by individuals

government where the people hold power

Economic system where factories and businesses are publicly owned and run by the government.

Economic system where resources are distributed through families - includes farming and herding

an example of representative democracy

when the U.S. sends rice to France

Nonrenewable resource

how a society decides on the ownership and distribution of its economic resources

example of monarchy

ruled by a king or queen

an example of a mixed market economy

includes the right to life, liberty, and fair treatment before the law

when the U.S. brings toys from China into the country to sell

a form of a command economy

Economic system where factories and businesses can be owned by individuals

example of a dictatorship

form of government where one person has absolute power to rule

Renewable resource