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Political & Economic Systems Full Version Flashcards | StudBud
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Political & Economic Systems Full Version
Political & Economic Systems Full Version
19 terms
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StudBud Administration
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224 plays
types of government and basics of economics
Flashcards
19 cards
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Questions
19
Answers
1
When one person has complete power or control over the government. and your PUBLIC life
Oligarchy
Democracy
Anarchy
Dictatorship
2
God and religious law are the government's authority.
Theocracy
Democracy
Anarchy
Monarchy
3
People are led by an elected legislature. The head of this body is called Prime Minister
Totalitarianism
Monarchy
Parliamentary Democracy
Dictatorship
4
How much of something there is
producer
supply
consumer
demand
5
free market economy
economic system where people choose how much something costs
the central government makes all economic decisions
economic system where govt controls all business
economic system where govt doesn't interfere with business
6
A person who buys a product or uses a service
demand
consumer
producer
supply
7
command economy
system where gov't makes all decisions
system where companies control the prices
system where the people choose which products to buy
system where the gov't shares responsibility for production
8
mixed economy
economic system with characteristics of both market and command
government owns all means of production
economic system where the government has no restrictions
economy where the people make all decisions on prices
9
Economic system based on money, individuals own businesses rather than the government
supply
capitalism
communism
socialism
10
in this system, the government owns production and there is no privately owned property
capitalism
communism
socialism
free market economy
11
King/Queen often shares power with other parts of the government.
Constitutional Monarchy
Anarchy
Oligarchy
Dictatorship
12
only major industries are owned by government rather than individual people and companies
demand
socialism
communism
capitalism
13
People do not answer to any leader or government.
Autoracy
Democracy
Monarchy
Anarchy
14
With this form of government citizens often have little or no rights or freedoms.
Anarchy
Dictatorship
Representative (Indirect) Democracy
Direct Democracy
15
How many people want something
demand
consumer
producer
supply
16
Led by a king or queen who hold all of the power
Absolute Monarchy
Anarchy
Oligarchy
Democracy
17
A person, company, or country that creates/manufactures a product
supply
consumer
demand
producer
18
Democracy where citizens elect others to serve in the government.
Parliament
Representative (Indirect) Democracy
Theocracy
Direct Democracy
19
Government by a small group, the group that has power can be based on race or social class.
Monarchy
Autocracy
Oligarchy
Democracy