Upcoming US Government Quiz

Nation meaning

• A sizable group who believe themselves united by common binds of race, language, custom or religion

• A collection of unrelated individuals.
• A type of government system.
• A small group of people living in isolation.

State meaning

• A type of fruit that grows on trees.
• Is a political community that occupies a definite territory and has an organized government.

• A method of communication between people.
• A historical event that shaped a nation.

3 Fundamental Economic Questions:

• - Why to produce

  - Where to produce

  - When to produce

• - What goods and services should be produced?

  - How should these goods and services?

  - How should people share goods and services?

What are the key factors of Democracy?

• Limited media access
• Free and fair elections, rule of law, protection of human rights, separation of powers, active citizen participation
• Mandatory military service
• Single-party rule

Socialism

• - Limited private ownership

  - Gov't and private entities

  - Limited class distinction

  - Production for societal needs

  - Charles Fourier

• - Total private ownership

  - Market Forces

  - Class distinction

  - Production for profit

  - Adam Smith

Communism

• - No private ownership

  - central gov't

  - no class distinction

  - production for basic needs

  - Karl Marx

• - Limited private ownership

  - Gov't and private entities

  - Limited class distinction

  - Production for societal needs

  - Charles Fourier

Capitalism

• - Total private ownership

  - Market Forces

  - Class distinction

  - production for profit

  - Adam smith

• - No private ownership

  - central gov't

  - no class distinction

  - production for basic needs

  - Karl Marx

Confederal System:

• Gives all key powers to the central government

• A loose union sovereign states. (The US under The Articles of Confederation)

• Divides the power of government between the national government and subunits like states

Factors of production - Entrepreneurs

• risk-taking individuals who use or combine the other factors of production in search of profit

• the money or resources necessary to purchase and invest in the production

Factors of Production - Capital

• the money or resources necessary to purchase and invest in the production

• risk-taking individuals who use or combine the other factors of production in search of profit