Presidential
Parliamentary
Government & Economics
Types of Economies
Economic Terms
100

In this system, citizens directly vote for the leader of the country.

Presidential

100

Citizens vote for this instead of directly voting for the leader.

Representatives or political party
100

This occurs when countries focus on producing certain goods using their natural resources.

Specialization

100

In this economy, the government controls the economy.

Command

100

This is the percentage of people who can read and write.

Literacy Rate

200

In a presidential democracy, citizens vote for both representatives and this leader.

Head of Government

200

This country uses a parliamentary democracy in Africa.

South Africa

200

This measures the total value of goods and services produced in a country.

Gross Domestic Product(GDP)

200

In this economy, the government and free market work together.

Mixed

200

Skills and knowledge that make workers valuable are called this.

Human Capital

300

This country is an example of a presidential democracy in Africa.

Nigeria

300

After political parties are elected, this leader is chosen.

Prime Minister

300

Countries with high literacy rates usually have higher ______, meaning they can produce more goods.

Productivity

300

In this system, supply and demand control the economy with little or no government involvement.

Pure Market

300

This term describes how well the average person lives in a country.

Standard of Living

400

In this system, the legislative and executive branches are separate.

Presidential Democracy

400

In this system, representatives elect the head of government.

Parliamentary

400

Countries want high literacy rates because it helps improve this, meaning how well people live.

Standard of Living

400

This economy means the government owns all businesses.

Pure Command

400

Countries with abundant natural resources often use them to specialize and improve this area of society.

Education

500

Citizens vote directly for the president instead of a political party leader in this African country.

Kenya

500

Citizens vote for this instead of directly voting for the leader. Hint: Majority

Political Party

500

These goods, such as machines and tools, help produce items more efficiently.

Capital Goods

500

Most countries today use this type of economy that includes both government rules and business freedom.

Mixed economy

500

This term refers to the total value of all goods and services produced in a country in a specific time period.

Gross Domestic Product(GDP)

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