Chapter 4 Vocabulary Review

Hardly found anymore ___________________________ bases economic activity on customs and traditions.

• Free Enterprise

• Command Economy

• Capitalism

• Traditional Economy

• Mixed Economy

A _________________ is based on supply and demand and free enterprise, in which private individuals can own property and make profit with limited government interference.

• Command economy

• Capitalism

• Mixed economy

• Market economy

_________________ is is an example of free enterprise, market economy.

• Command economy

• Capitalism

• Mixed economy

• Market economy

In a _________________ decisions about production of goods are made by a central authority.

• Command economy

• Capitalism

• Mixed economy

• Market economy

Many countries have a _________________ in which the government supports and regulates free enterprise to keep competition fair.

• Command economy

• Capitalism

• Mixed economy

• Market economy

Government in which rulers are believed divinely inspired.

• Autocracy

• Monarchy

• Oligarchy

• Theocracy

• Democracy

Government in which a small group holds power

• Autocracy

• Monarchy

• Oligarchy

• Theocracy

• Democracy

Government in which leaders rule with consent of citizens

• Autocracy

• Monarchy

• Oligarchy

• Theocracy

• Democracy

Government in which one person rules with unlimited power

• Autocracy

• Monarchy

• Oligarchy

• Theocracy

• Democracy

A hereditary king or queen exercises supreme power

• Autocracy

• Monarchy

• Oligarchy

• Theocracy

• Democracy