Government & Economics

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Presentation transcript:

Government & Economics Unit 1 Geography

Federal System of Government Divides government power between national and state/provincial governments

Autocracy When a single individual rules Varieties include: Totalitarian dictators Monarchies

Oligarchy Rule by a small group Usually determined by wealth, military power, or social status THEOCRACY—when religion inspires the power King abdullah saudi arabia

Democracy Any government in which leaders rule with consent of the citizens

Economic Systems 3 questions drive all economies: What/how many goods to produce? How should they be produced? Who gets the goods produced?

MARKET ECONOMY (Capitalism): Individuals/private groups make all the decisions COMMAND ECONOMY (Communism): Government owns and directs all production and business

MIXED ECONOMY (Socialism): Government supports and regulates private businesses and property through some decision- making