Africa
What stunts or slows the growth of children in Africa?
Lack of food
What type of economic system does Switzerland have?
Market economy
Why is it important for every society to answer the three fundamental questions?
To decide how to allocate limited resources
Who was Boris Yeltsin/why didn’t he think it was ordinary for people to be doing weekly grocery shopping?
Political leader from the Soviet Union/ Soviet economy was in shambles and consumer goods were scarce
What is an informal economy?
The part of the economy in which goods and services are exchanged outside of government control People who work in the informal economy often sell goods on the street or in a street market
How does a Feudalism form of government operate?
An economic and political system of the European Middle Ages in which landowners granted land to tenants in return for military assistance and other services
Who is the power shared between in a confederal system of government?
Independent states form a nation but retain their power under a weak central government
What was the state of the soviet economy in the late 1980s?
In shambles
What is the UNDP?
An international organization that works to reduce poverty in developing countries
What is the way of a communist form of government?
A system of government in which a single political party controls both the government and the economy
Who is the power shared between in a unitary system of government?
concentrates power in the national, or central, government
How does a command economy operate/what is their highest goal?
An economic system in which decisions about production and consumption are made by a powerful ruler or government/accumulate wealth and goods for the ruling class
How is the ruler of a Monarchy chosen
Most have inherited their power and expect to rule for life
How are things handled in Fascism form of government?
A totalitarian system in which businesses remain in private hands but under government control
Why is it crucial for the government to have a hand in the free market?
Governments are needed to establish the institutions that enable markets to operate
How do things work in a traditional economy/what are the goals of a traditional economy?
An economic system in which decisions about production and consumption are based on custom and tradition/stability and security
What type of economic system does South Sudan have?
Traditional economy
Who is the power shared between in a federal system of government?
Power is shared between the national government and smaller regional governments within the nation
What is a mixed economy?
An economic system in which both the government and individuals play important roles in production and consumption
What is the way of a free market economy/ what are their highest goals?
An economic system in which the workings of the market are not planned or directed/ freedom and stability