Political & Economic Systems 2021

How much of something there is

A person, company, or country that creates/manufactures a product

Economic system based on money, individuals own businesses rather than the government

command economy

When one person has complete power or control over the government.

in this system, the government owns production and there is no privately owned property

How many people want something

Led by a king or queen who hold all of the power

God and religious law are the government's authority.

Leader often shares power with other parts of the government.

Democracy where citizens elect others to serve in the government.

only major industries are owned by government rather than individual people and companies

A person who buys a product or uses a service

People are led by an elected legislature. The head of this body is called Prime Minister

Government by a small group, the group that has power can be based on race or social class.

With this form of government citizens often have little or no rights or freedoms.

People do not answer to any leader or government.

mixed economy

free market economy