terms Flashcards
Capitolism
the people control the economy
Example sentence: In a capitalistic society, individuals have the freedom to start businesses and make their own economic decisions.
Socialism
the people and the government control the economy
Example sentence: Some countries have adopted socialist policies to ensure that basic needs are met for all citizens.
Communism
the government controls the economy
Example sentence: Communism aims to create a classless society where resources are shared equally among all individuals.
Market economy
Supply and demand direct the production of goods and services
Example sentence: In a market economy, prices are determined by the interactions of buyers and sellers in the marketplace.
Democracy
the people rule
Example sentence: A democratic system allows citizens to participate in decision-making through voting and other forms of political engagement.
Dictatorship
Force, Fear (military)
Example sentence: Under a dictatorship, political power is concentrated in the hands of a single ruler or a small group of individuals.
Monarchy
family or inherited
Example sentence: In a monarchy, the position of ruler is typically passed down through generations within a ruling family.
Republic
people hold power, but elect representatives to exercise that power
Example sentence: The United States is a republic where elected officials represent the interests of the people in government decisions.
Nations wealth can be increased by trade, expanding exports/limiting imports
Mercantilism
Vote on bills
U.S. Senate & House of Reps.
structure that has two separate legislative
houses or chambers
bicameral legislature
interpret laws
Judicial
enforces laws
executive
legislative
makes laws
supporters of constitution
federalists
