Economic Systems and Government Types

The lecture covers various government systems including autocracy, monarchy, oligarchy, theocracy, and democracy, explaining their characteristics and providing examples. It also discusses economic systems such as traditional, market, mixed, and command economies, and the economic development stages of countries, highlighting the differences between developed, newly industrialized, and less developed nations.

Which type of government is characterized by a single leader with unlimited power?

• Theocracy

• Autocracy

• Oligarchy

• Democracy

In a constitutional monarchy, the monarch typically shares power with which of the following?

• Military

• Parliament

• Judiciary

• Citizens

What is the main source of power in an oligarchy?

• Divine inspiration

• Wealth and social status

• Public elections

• Military force

Which system of government is based on divine inspiration and religious authority?

• Democracy

• Theocracy

• Autocracy

• Oligarchy

In a direct democracy, how are laws typically passed?

• By elected representatives

• Through public voting

• By the monarch

• By the military

What controls economic activity in a traditional economy?

• Technological advancements

• Custom and tradition

• Government regulations

• Market demand

In a market economy, what primarily determines the prices of goods?

• Military power

• Cultural traditions

• Supply and demand

• Government policies

Which economic system involves significant government regulation to protect consumers and workers?

• Traditional economy

• Market economy

• Mixed economy

• Command economy

In a command economy, who makes all the decisions about production and pricing?

• Consumers

• Private businesses

• The government

• International organizations

Which type of country is characterized by a focus on agriculture and low levels of industrialization?

• More developed country

• Less developed country

• Newly industrialized country

• Technologically advanced country