Sink or Swim Economics & Government Review

Economics This type of economy is based on customs and could be agriculture or hunting based.

Government Distribution of power ____________ is a voluntary association of independent states.

Economics All of these terms are related to what economic topic? Factors of __________________ Land Labor Capital Resources Entrepreneur

Government Which type of democracy has a Prime Minister?

Economics Natural Resources can be further broken into what two types?

Government What does it mean to be in a Monarchy?

Economics This is a type of TRADE BARRIER that places a TAX on goods when they cross a national border.

Government A _________ government is one where the government owns property, business, farms, and it provides the people with things like healthcare, education, & welfare. There are no other options for the citizens except to accept what the government offers.

Economics This allows countries to be able to fairly do business with one another.

Government Iraq under the leadership of Saddam was an example of this type of government:

Economics If you live in a place where the government owns and operates all forms of business, you live in a ______________ economy.

Government Explain a Revolutionary government.

Economics Name the 4 types of economic systems.

Government China is an example of a ______________ type of government.

Economics This type of economy is also called FREE ENTERPRISE.

Government What form of government exists where the rulers claim to be ruling on behalf of religious ideas?

Economics What is the difference between a command economy and a market economy?

Government A ____________ system is a situation where there is no government.

Economics Socialism and Communism are terms associated with this type of economic system.

Government What type of democracy does the US practice?

Economics ______________ is the total market value of all final goods and services produced within the country in a given period of time.

Government A dictator falls under this type of government power distribution.

Economics This is the broad term that relates to all of the following: Tariff Quota Embargo

Government How does a Federal government distribute power?

Economics What does it mean if you have an embargo placed on another country?

Government Explain what it means to be a Unitary government

Economics _________ focuses on a countries development of ONE specific product or service.

Government What are the two types of democracy?

Economics ____________ is a type of trade barrier that sets a physical # limit on the quantity of a good that can be imported into a country.

Answers Slide Number … 2. Traditional 3. Confederation 4. Production 5. Parliamentary Democracy 6. Renewable / non-renewable 7. Ruled by a king 8. Tariff 9. Communist 10. Trade 11. Dictatorship 12. Command 13. Existing gov. is overthrown by a completely new group. 14. Market, command, mixed, traditional 15. Communist 16. Market 17. Theocratic 18. Gov. controls command; Supply & demand controls market 19. Anarchy 20. Command

Answers Slide number… 21. Presidential 22. Gross Domestic Product 23. Autocratic 24. Trade barriers 25. Power divided between central gov. and smaller divisions (states) 26. No trade allowed 27. Central gov. assigns power& duties to smaller divisions 28. Specialization 29. Parliamentary & Presidential 30. Quota