1. Bell-Work 3/7/2017
What is the difference between a direct democracy and an indirect democracy (representative)?

2. Types of Government

3. Democracy vs. Autocracy
Supreme political authority rests with the people.
“Government is conducted only by and with the consent of the people”
Supreme political authority rest with an individual.
Not accountable to the people

4. Types of Democracy Representative (Indirect) Direct
Representatives are chosen by the people to conduct the regular day-to-day activities of government.
No where in the world at a national level
The governed make governmental decisions (public policy) themselves.

5. Types of Autocracy Monarchy Dictatorship Ruled by king or queen.
Power is granted by succession (death of the current monarch to his/her oldest heir)
No absolute monarchies currently exist.
King Henry VIII
Ruled by a dictator
Typically come into power by force
Example WWII Germany

6. Additional “Governments”
Oligarchy
Theocracy
Anarchy
Small group of people holds all the power
Junta (military force)
Political party
Race
Class
Lack of government
Interests of the individual (dog eats dog)
God or divine being is absolute authority
Religious law is used to

7. Presidential vs. Parliamentary
Legislative and executive branch are two separate branches
Executive voted in by the people
Legislative gives power to the executive branch through the Prime Minister.
Prime Minister is voted from the legislative branch (party with the most members)
PM can be removed from power by a vote of no confidence.

8. Federal, Confederation, Unitary
Aka Centralized
All power is held by a single national power
Local governments are granted only powers central government awards
Ex. United Kingdom
Power is divided between central and local governments.
Both local and national create and enforce laws directly upon the citizens.
An authority controls both levels and neither power can be changed through their own action.
Ex. United States.
An alliance of independent states.
Only powers are those granted to it by the states.
States retain separate identities but work together in only certain matters.
Ex. European Union

9. Name a board game which uses properties, fake money, and tiny houses.
Bell-Work
Name a board game which uses properties, fake money, and tiny houses.

10. Economics

11. Capitalism Aka: free enterprise system
Private ownership of capital goods and investments
Consumers, entrepreneurs, and workers have freedom of choice
Four Factors
Private Ownership – ownership of goods is located with individuals and corporations not with the state
Individual Initiative – all individuals are free to start or run their own business and to dissolve those businesses.
Profit – gain from the ownership of goods or services.
Competition – multiple companies own similar products or services, which leads to competitive pricing.

12. Sherman Anti-Trust Act of 1890 prohibits companies from creating a trust.
Laissez-faire theory means government should limit its activity to:
Foreign relations and national defense
Maintenance of police and courts
Few other functions that cannot be performed by corporations

13. Cooperation and social responsibility
Socialism
Benefits of economic activity should be distributed equally throughout society.
Public ownership (state) of important means by which goods and services are distributed and produced. (public owns centers of economic power
Cooperation and social responsibility

14. Characteristics
Nationalization – government ownership of enterprises and industries, not all sectors only certain areas. Workers become part of the companies ownership.
Public Welfare – provide for necessities and services (retirement, healthcare, university education, housing for the poor)
Taxation – typically high (between 50% and 60%), burden falls primarily on upper and middle class
Centrally Planned Economy – government agencies determine how an economy will develop or change over years. Targets for production and direct investment.

15. Communism AKA Collective Ideology
State ownership of land and other productive property
Characteristics
Central planning – bureaucrats plan and supervise all production, decide pricing and distribution of products and services.
Collectivization – State ownership of enterprises
State Ownership - ^
Role of the Communist Party – politics is parallel to economics

16. Definitions Economics -
the branch of knowledge concerned with the production, consumption, and transfer of wealth.
the condition of a region or group as regards material prosperity.
Factors of production – basic resources which are used to make all goods and services
Land
Labor
Capital

17. Law of Supply and Demand
When supply is great the price will drop, additionally if demand drops so will the price
When supply is low the price will rise, additionally if demand is great the price will rise.
Monopoly – when a person or corporation is the only source of a product or service
Trust is when multiple businesses combine to remove competition and regulate prices