Economics/Political Systems

The government runs some industries and uses profits to pay for other government programs.

What type of system? —“Pure democracy”—People vote on laws or issues.

What kind of Economy is this? —Directed by both private companies and the govt.

How do Dictators Keep Power?

—What type of system? A Republic—People elect reps. to make the laws

The govt runs all industries, owns property, sets wages/prices, and people do as they are told.

What kind of economy is this? —People own companies and decide what to produce for the people.

What type of system? —One person/party holds total power to govern.—Citizens have few rights

—What system is this? Ruler inherits the throne by birth.—Citizens don’t decide laws.

What is Economics?

What kind of economy is this? —People find food for themselves and trade for needed goods.

—Government makes economic decisions about what should be produced, how much it should cost.