Goverment And Economy Flashcards
0
Q
Is a political system in which the government owns all property and dominates ll aspects of life Ina country
A
Communism
1
Q
Is a form of government in which the people elect leaders and rule by majority
A
Democracy
2
Q
Is a system based n private ownership free trade and competition
A
Market economy
3
Q
A system in which the central government makes all the economies decision
A
Command economy
4
Q
Is the values of all goods and service produced within a country Ina single year
A
Gross domestic product
5
Q
Countries with strong economies and a high quality of life
A
Develop countries
6
Q
Countries with less productive economies and a lower economies and a lower quality life
A
Developing countries
