SWA Government/Economics Vocab

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A political system with one leader or party in absolute power.

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autocracy

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A political system where citizens elect representatives.

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democracy

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Chief executive selected by parliament

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Parliamentary democracy

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Social science of wealth production, consumption, and distribution

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Economics

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Ruled by a king and royal family, serving as head of government and state, responsible for laws.

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autocratic monarchy

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Percentage of a country's population that can read and write.

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literacy rate

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A group of countries that export oil.

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Organization of Petroleum Exporting Countries (OPEC)

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Durable goods used in production

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Capital goods

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A government where citizens directly elect a president.

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presidential democracy

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Skills and knowledge gained by a worker through education and experience.

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Human capital