Everyone works to produce enough resources to get by. Not much surplus.
What is a traditional economic system
100
leader holds power
no choice in elections
no guaranteed rights
threats used to keep peace
What is an authoritarian government
100
laws
courts
limits on behaviors
jails
police
What is maintaining order
100
strong central government
people have little or no say
What is a unitary governemnt
100
agreement about basic beliefs
What is consensus
200
All aspects of supply and price are regulated by the government
What is a command economy
200
military rule
no elections
What is a dictatorship
200
water and sewage
education
public and social services
parks and recreation
safety and welfare agencies
What is providing services
200
power is split between the central and state governemnts
What is a federal government
200
the study of human efforts to satisfy seemingly unlimited wants through the the use of limited resources
What is economics
300
division of labor, prices determined by supply and demand.
Example: black market
What is a market economy
300
elected officials
choice exists in elections
guaranteed rights
What is a representative democracy
300
military
Government agencies - CIA, FBI, NSA
relationships with other countries
border patrol
weapons and technology
What is national security
300
weak and central government
scattered power
people rule
What is a confederation
300
the government owns the means of production, determines the use of products and wages, and provides social services such as education, health care, and welfare
What is socialism
400
A mixture of economic freedom and government regulation
What is a mixed economy
400
a group of people rule
military involved
What is an oligarchy
400
settle interest rate
raise and lower taxes
spending and cutting expenditures
creating currency
laws concerning business and trade
What is regulate the economy
400
Advantages: people have a say, share power, guaranteed freedom
Disadvantages: slow decision making, no total agreement
What is a representative deomcracy
400
the state has absolute and supreme authority with in it's territorial boundaries
What is sovereignty
500
telling where, when, who, and what to distribute and make in an economy. Ex: growing vegetables and being told what to do with them
What is how the U.S.government controls the economy
500
The majority is needed in a vote
What is popular sovereignty
500
an agreement by the governed on a set of rules by which they are governed (John Locke)
What is a social contract
500
a god or gods determine who should rule
Aztecs, Chinese, Egyptians
What is a divine right
500
the interpretation and application of the constitution