Ch.4 Sections 3-4 Flashcards

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1
Q

What is a unitary system?

A

Gives all power to the central government. Sometimes they create state governments.(UK, France)

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2
Q

What is a federal system?

A

Divides power between state a national government(USA)

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3
Q

What is autocracy?

A

Ruled by one person. The oldest and most common

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4
Q

What is a totalitarian dictatorship? What are three examples of this?

A

Desire to control everything; Hitler-nazi Germany, Mussolini-France, Stalin-Russia

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5
Q

What is an absolute monarch?

A

Complete and total rule of people-unlimited power(Saudi Arabia)

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6
Q

What is a oligarchy?

A

Rule by a group of people(communists parties-China)

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7
Q

What is democracy and what Greek word does it come from?

A

Rule by the people; “demos-people kratia-rule”

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8
Q

What us direct democracy?

A

No longer exists and it’s where people decide by very voting directly

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9
Q

What is a republic?

A

Where the people elect others to represent us with limited terms(US)

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10
Q

What are the three decisions in economic systems?

A

1) what and how many goods and what services should be produced
2) how many goods should be produced
3) who gets the goods and services produced

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11
Q

What is a traditional economy?

A

Based on habits and customs not consumer preferences

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12
Q

What is market economy?

A

Individuals and private groups make decisions about what to produce. People choose what to buy and businesses sell items based on consumer preferences

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13
Q

What is a mixed economy?

A

It’s where the go verdant supports and regulates free enterprise

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14
Q

What is the goal of mixed economy?

A

Keep competition fair and have free entry

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15
Q

What is a command economy?

A

Government owns or directs the means of production and controls the distribution of goods; looks good on paper, has been bad on practice so far

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16
Q

What are the three main goals of socialism and communism?

A

1) equal wealth and economic opportunity
2) societies control, through the government, of all major decisions about production
3) public ownership of most land, factories, and other means of production

17
Q

What will happen if government controls all aspects of a market?

A

Consumers will not be innovative or produce products people will want. As a result, choices and economics will stagnate(China?)

18
Q

What is the idea of the barriers to trade?

A

Governments add taxes on imported goods, add quotes on how many goods can be imported, place embargoes banning goods from other countries as punishment(political/economic)

19
Q

What is NAFTA?

A

North American Free Trade Agreement-US, Mexico, and Canada

20
Q

What is the European Union?

A

Many European countries share the same currency, the euro

21
Q

How many independent countries are there?

A

200