Government & Economy Types

How are decisions made in a traditional economic system?

• By the government

• By the values, traditions, and rituals of the people involved

• By the consumer

How are decisions made in command economy?

• By the government

• By the values, traditions, and rituals of the people involved

• By the consumer

How are decisions made in capitalist economy

• By the government

• By the values, traditions, and rituals of the people involved

• By the consumer

Although the United States has a mixed economy, what economic system is the United States most closely related to?

• traditional economic system

• command economy

• capitalist/ free market

What is the definition of a democracy?

• form a government in which a single person, called a monarch, functions as the head of state

• a political and economic system in which most property and resources, such as factories or farms, are publicly owned or controlled

• political system in which the government owns all property and dominates all aspects of life in a country

• a form of government in which the people elect leaders and rule by majority

What is the definition of communism?

• form a government in which a single person, called a monarch, functions as the head of state

• a political and economic system in which most property and resources, such as factories or farms, are publicly owned or controlled

• political system in which the government owns all property and dominates all aspects of life in a country

• a form of government in which the people elect leaders and rule by majority

What is the definition of a monarchy?

• form a government in which a single person, called a monarch, functions as the head of state

• a political and economic system in which most property and resources, such as factories or farms, are publicly owned or controlled

• political system in which the government owns all property and dominates all aspects of life in a country

• a form of government in which the people elect leaders and rule by majority

What is the definition of socialism?

• form a government in which a single person, called a monarch, functions as the head of state

• a political and economic system in which most property and resources, such as factories or farms, are publicly owned or controlled

• political system in which the government owns all property and dominates all aspects of life in a country

• a form of government in which the people elect leaders and rule by majority

True or False: the general public votes on who they want the leaders to be in a democracy?

• True

• False

True or False: the general public votes on who they want the monarch to be in a monarchy?

• True

• False