When citizens elect representatives who make the laws

When the government is ruled by few, select members

When one person has all the power in the government

When a government recognizes God or a divine being as the ultimate authority

When a small group of people, usually military officers, rule a country after taking it over by force

Capitalism

Socialism

Communism

Adam Smith wrote about

Karl Marx wrote about

Laissez-faire means

In a traditional economy, who decides what to produce?

In a command economy, who decides what to produce?

In a market economy, who decides what to produce?

In a mixed economy, who decides what to produce?

In a traditional economy, who decides how to produce?

In a command economy, who decides how to produce?

In a market economy, who decides how to produce?

In a mixed economy, who decides how to produce?

In a traditional economy, for whom are the goods and services produced?

In a command economy, for whom are the goods and services produced?

In a market economy, for whom are the goods and services produced?

In a mixed economy, for whom are the goods and services produced?

When people have supreme power, government acts by and with consent

A state in which supreme power is held by the people and their elected representatives

Why are the three economic questions important?

A form of government ruled by a king/queen

A form of government without a ruler

A strong central government that limits political freedom to maintain control

A system of government with the goal of creating a classless society

A form of government in which one person or small group possesses absolute power without effective constitutional limitations

How goods and services are produce and distributed in an economy

When economic decisions are based on custom and beliefs

When the government makes all economic decisions and owns most of the property

When economic decisions are guided by the changes in prices that occur as individual buyers and sellers interact in the marketplace

When businesses own most resources and determine what and how to produce but the government regulates certain industries

What is the difference(s) between a republic and democracy?

In some remote Amazonian tribes, people hunt, fish, and farm using methods their ancestors have used for centuries.

Think about a large, modern shopping mall or an online store like Amazon.

During the 20th century, the Soviet Union had a central government agency that decided exactly how many tractors and shoes to produce.

The United States is a good example; most businesses are privately owned, but the government provides public education, builds highways, and enforces pollution rules.

A student starts a small business mowing lawns in the summer, investing their own money in equipment and keeping the profit.

Many countries in Western Europe have systems where the government runs key services like healthcare and utilities, while private businesses run most other industries. It focuses on wealth distribution and public ownership of essential industries to benefit society as a whole.

The United Kingdom has a King who inherited his position from his parent, though he holds mostly ceremonial power today. This system has a single ruler, such as a king, queen, or emperor, who usually inherits the authority for life.

The modern country of Iran has a government where the religious leaders (Ayatollahs) hold the supreme political authority and the laws are based on religious texts. The government is ruled by religious leaders who claim to rule on behalf of a deity or set of religious principles.

In some modern states, the leaders claim they are acting in the country's best interest but severely restrict citizens' rights to speak freely, protest, or vote against them. Power is concentrated in the political elite, with little or no input from citizens and limited personal freedoms.

Following a massive natural disaster, a major city's government and police force collapse, leading to a temporary period where there is no functioning ruling authority. This is a state of disorder due to the absence of government or authority.

In the past, leaders like Fidel Castro or Saddam Hussein took complete and often brutal control of their countries. A single, unelected person or small group holds all the power and often maintains it through military force and suppression of opposition.

A single emperor or a king in an absolute monarchy has the power to make all the country's laws and decisions without consulting any other body. This is a system where one person has absolute power, often without constitutional limits.

Historically, some ancient Greek city-states were ruled by a small council made up of the wealthiest and most influential land-owning families. A small group of people rules a country, typically those with wealth, military power, or political influence.

In 2021, the military leaders of Myanmar seized control of the government after arresting the civilian political leaders. This is a specific type of military dictatorship where a group of military officers rules a country after taking power by force.