1. Vocabulary Day (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

2. Types of Governments and Economies

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

4. 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)

5. ANARCHY
A STATE OF NO GOVERNMENT

6. 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

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

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

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

10. 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

11. 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

12. 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

13. 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

14. 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

15. 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

16. VIDEOS WATCHED IN CLASS
FORMS OF GOVERNMENT:
ECONOMIC SYSTEMS (FILL IN CHART) :