Types of political systems
Power is concentrated in the hands of a few wealthy individuals, powerful corporations, or a specific dominant class
What is an oligarchy?
Decisions regarding production, investment, and distribution are guided by the forces of supply and demand in a free-price system
What is market economy?
This 1215 English historical document laid the groundwork for constitutional monarchy by restricting the king's absolute power and subjecting him to the rule of law.
What is the Magna Carta?
Power rests with the people.
what is a democracy?
A centralized authority—usually the government—controls the means of production and dictates exactly what is produced, how it is made, and who receives it.
What is command economy?
In this type of monarchy, the ruler possesses unrestricted political power, completely governing the state without a constitution or elected legislature
A system where a single person, usually a member of a royal family, serves as head of state for life or until abdication.
What is a monarchy?
The most historical and basic system, grounded in customs, history, and time-honored beliefs.
What is traditional economy?
This prominent European nation transitioned to a constitutional monarchy in 1689 and is known for combining an elected House of Commons with an unelected House of Lords.
What is the United Kingdom?
Power and authority are held by a single leader or a very small group and are usually maintained by force.
What is a dictatorship?
A hybrid system that blends elements of both market and command economies.
In a constitutional monarchy, the monarch often holds this ceremonial status, acting as the living symbol of national unity while the Prime Minister runs the government.
What is the Head of State?
A system of government where the state's legal framework and political leadership are based on religious rules or managed directly by religious leaders.
What is a theocracy?
Focuses on the collective or state ownership of major industries and resources.
What is socialist economy?
This word describes a political system where power is legally passed down from generation to generation within the same ruling family
What is Hereditary?