Vocabulary Day 1 (9/5/17) Instructions: Copy down the following Vocabulary Words onto a sheet of paper or in your notebook (not your composition book) TOTALITARIAN – form of government which all aspects of citizens’ lives are controlled by the gov’t. LIMITED GOVERNMENT – constrained by constitutional law and derive its power from the people. CONTROLLED ECONOMY – economy where government has all/most control over how a business runs FREE MARKET – economy where government has no control over how a business runs

Types of Governments and Economies

CONSTITUTIONAL MONARCHY A LIMITED MONARCHY, CONSTRAINIED BY A CONSTITUTION AND RULED WITH THE HELP OF AN ELECTED LEGISLATURE. MODERN UNITED KINGDOM

OLIGARCHY / DICTATORSHIP ABSOLUTE RULE BY A SMALL GROUP, EITHER WITH AN INDIVIDUAL OR POLITICAL PARTY IN CHARGE. POWER IS HELD BY FORCE. NORTH KOREA (D), SOVIET UNION (O)

ANARCHY A STATE OF NO GOVERNMENT

REPUBLIC A LIMITED GOVERNMENT, DERIVING ITS POWER FROM THE PEOPLE, WITH A CONSTITUTION OF LAW RESTRAINING THE GOVERNMENT FROM TAKING THE LIBERTY OF THE PEOPLE. UNITED STATES OF AMERICA, ROME

ABSOLUTE MONARCHY/IMPERIALISM RULED BY A HEREDITARY KING OR QUEEN, USUALLY WITH THE HELP OF AN ARISTOCRACY. ENGLAND DURING THE MIDDLE AGES

DEMOCRACY MAJORITY RULES WITH NO PROTECTION FOR THE MINORITY. ANCIENT GREECE

ECONOMIC SYSTEMS WHAT TO PRODUCE? HOW TO PRODUCE? FOR WHOM TO PRODUCE?

MIXED ECONOMY ECONOMIES THAT HAVE PARTS OF TWO OR MORE TYPES OF ECONOMIC SYSTEMS MIXED IN. MOST COUNTRIES HAVE A MIXED ECONOMY: UNITED STATES OF AMERICA, ENGLAND

SOCIALISM GOVERNMENT PROVIDES MANY SERVICES SUCH AS HEALTH CARE, EDUCATION, AND WELFARE BY FORCIBLY TAKING MONEY FROM CITIZENS TO REDISTRIBUTE IT TO OTHERS. ALSO, UTILIZES GOVERNMENT CONTROL AND REGULATION IN VARYING DEGREES TO ACHIEVE GOALS OF THE ELITE RULING CLASS. FINLAND, CANADA, NORWAY

CAPITALISM (MARKET ECONOMY) PROPERTY IS OWNED AND ADMINISTERED BY INDIVIDUALS WHO ARE ALSO RESPONSIBLE FOR AND RETAIN POWER OVER THEIR OWN WELFARE. NO TRUE CAPITALIST OR MARKET ECONOMIES

COMMUNISM ALL PROPERTY AND GOODS ARE OWNED BY COMMON AND SHARED EQUALLY, BUT IN REALITY THE WEALTH IS HELD BY A FEW ELITE AND TAKEN FROM THE REST OF THE PEOPLE BY FORCE. ALL MEANS OF PRODUCTION ARE OWNED BY THE GOVERNMENT. CHINA, CUBA

FASCISM GOVERNMENT CONTROLS NEARLY ALL ECONOMIC ACTIVITY WHILE LEAVING THE OWNERSHIP OF PROPERTY IN THE HANDS OF THE PEOPLE. EXAMPLE: NAZI GERMANY, MUSSOLINI’S ITALY

TRADITIONAL ECONOMY CUSTOMS GOVERN THE ECONOMIC DECISIONS THAT ARE MADE ACTIVITIES ARE CENTERED AROUND THE FAMILY OR ETHNIC UNIT PYGMIES OF CONGO, INUIT OR ESKIMOS AND NATIVE TRIBES

VIDEOS WATCHED IN CLASS FORMS OF GOVERNMENT: https://youtu.be/vdh9xo47OWM ECONOMIC SYSTEMS (FILL IN CHART) : https://youtu.be/TZGqPtzAH5k