Chapter 4 Flashcards
what is unitary system
gives all the key power to the national government
what is federal system
divides power between national and state government
what is an autocracy
ruled by one person
what is the oldest and most common form of government
autocracy
what are the examples of a totalitarian dictator
king jong un, adolf hitler, and joseph stalin
what is the example of an absolute monarchy
saudi arabia
what is an oligarchy
ruled by a few people
what does the word democracy come from
the greek words “demos” and “kratia”
what is a direct democracy
the people decide on every issue. an example is ancient greece and ancient rome
what is a representative democracy
we elect people, with limited terms, to represent us
what is traditional economy
habits and customs determine the rules of economics, not customer preference
what is a mixed economies
the government supports and regulates free enterprise and free entry
what is command economy
government owns or directs the means of production and controls the distribution of goods
how many independent countries are there
200
what are the three main goals of socialism and communism
- equal distribution
- societys control of all major decision
- public ownership
why is communism bad
if the government controls all aspects of a market, then consumers will not be innovative or produce what people want. as a result choices and economics will stagnate.
what are the barriers of trade
taxes, quotas, and embargoes
what is NAFTA and who is involved in it
north american free trade agreement; US, Mexico, and Canada
what type of the government and economic system is the best
i think the democracy is the best because people get to decide on who represents them, also i think the mixed economy is the best because the government and the people have input on what is produced
did the europeans have their own NAFTA
yes many european countries formed together and created the european union and they all share the same currency, the euro
