Economic Systems
This economic system relies primarily on cultural practices and traditions.
What is Traditional Economy
The most common form of government where citizens elect leaders.
The study of economic activities and their influencing factors.
What is Economic Geography?
A single leader who takes power by force.
What is an autocracy (dictatorship)?
In this system, individual businesses make most economic decisons.
What is Market Economy.
Geographical study focusing on cultural elements and their locations.
What is Cultural Geography?
A government where one party controls all political processes.
What is an Oligarchy?
A type of economy where the government controls most economic choices.
What is Command Economy.
The oldest form of government involving inherited leadership.
What is a Monarchy?
A detailed investigation of a specific geographic or research issue.
What is a Case Study?
Leadership passed through royal bloodlines.
What is a Monarchy?
This economic model combines market forces with some government regulation.
A goverment type where power is shared between national and regional levels.
What is a Federal System?
A system with checks and balances established by a constitution.
What is a Republic?
The three basic economic questions all societies must answer.
What are: What to produce, How to produce, For whom to produce?
This system concentrates power in the national government.
What is a Unitary System.
These are the two levels of government in most countries.
What is national and regional.