1. Government and Economy
Social Institutions

2. Economic Systems Primary Sector Secondary Sector Tertiary Sector
Extracting raw materials from the environment
Fishing, mining, farming
Secondary Sector
Use of raw materials to manufacture goods
Wood into furniture, manufacturing a computer
Tertiary Sector
Providing services
Retail sales, auto repair

3. Economic Models Capitalism Socialism
Factors of production are owned by individuals
Forces of profit and competition regulate activity
Socialism
Most of the factors of production are owned by the government
Government regulates activity

4. At Their Extremes Laissez-faire Capitalism Communism
French term – “let the people do as they choose”
Unrestricted capitalism
Gilded Age/Robber Barons
Communism
Political and Economic System
Property is communally owned
No social classes
Also doesn’t work

5. A Debate on Politics
You and a partner will research one of the listed types of governments in class.
Make a detailed list of its pros and cons, its strengths and weaknesses.
You will need to prepare to argue in favor of the form of government that you selected against another pair in the class.
Decide between the two pairs which system of government is best and be prepared to tell the class how you came to this conclusion versus the system that lost.

6. Parliamentary System
Dictatorship
Communism
Democracy
Absolute Monarchy
Republic
Theocracy