Governments and Economies

Governments and Economies

Government

gov·ern·ment/ˈgəvər(n)mənt/Noun: The governing body of a nation, state, or community.The system by which a nation, state, or community is governed.

Democracy

The government is elected by the people.

Everyone who is eligible to vote has a chance to have their say over who runs the country.

Dictatorship This is a country ruled

by a single leader.

The leader has not been elected and may use force to keep control.

In a military dictatorship, the army is in control.

Monarchy

A monarchy has a king or queen.

In some traditional monarchies, the monarch has absolute power (All)

But a constitutional monarchy, like the UK, also has a democratic government that limits the monarch's control.

Make Observations about what you see in the picture the predict what government would

fit.

Communist In a communist country, the government owns

thingslike businesses and farms.

It is also a type of economy.

It provides its people's healthcare, education and welfare.

Economy

e·con·o·my/iˈkänəmē/Noun:The wealth and resources of a country or region, esp. in terms of the production and consumption of goods and services.

Market Economy¨ Resources are owned and

controlled by individuals

¨ Economic decisions are made by individuals competing to earn profits

¨ Economic decisions are made by the basic principals of supply and demand

Command Economy

¨ The government sets the prices of goods and services

¨ Examples of command economies: Cuba, North Korea and the People’s Republic of China

Mixed Economy¨ Government and individuals

share the decision making process

¨ Government guides and regulates production of goods and services offered

¨ Most effective economy for providing goods and services

Traditional Economy¨ Farming, hunting and gathering are done the same way as

the generation before

¨ Economic activities are usually centered toward the family or ethnic unit

¨ Men and Women are given different economic roles and tasks