Limited governments

1. 
   Limited Government - People have rights, the governments power is LIMITED usually by a strictly enforced constitution.
   
2. 
   Democracy (Presidential or Parliamentary) – Leaders are voted on (ex USA)
   
3. 
   Republic – a government in which citizens elect leaders to rule on their behalf. (ex USA)
   
4. 
   Constitutional Monarchy – a form of government where a single person is in charge, the power is usually inherited from their parents and they usually rule for life. *There is a set of laws that limits the monarchs power (ex England).
   

5. 
   Unlimited Government – The people have few or NO rights. The government power is unlimited and there is usually not a constitution limiting what the government can do to the people.
   
6. 
   Absolute Monarchy – a form of government where a single person is in charge, the power is usually inherited from their parents and they usually rule for life. *There are NO or FEW laws to limit the monarchs power.
   
7. 
   Theocracy – a government headed by religious leaders. The religion is the law. (ex Iran)
   
8. 
   Dictatorship – Usually take and keep power by force. Most dictators come to power after violently overthrowing the previous government.
   
9. 
   Totalitarian Government - a government in which one person or group of people rule a country in which the people have no say. Similar to a dictatorship.
   
10. 
    Single Party-State – The constitution allows only one political party to be in charge.
    

11. 
    Oligarchy – a small group of people hold all of the power in this type of country.
    

Other government terms to know…

12. 
    Oppression - when a group of people (or a person) is mistreated by their government . Usually seen when there are political or religious differences between the government and the people.
    
13. 
    Human Rights - The idea that each person has a basic set of rights (things we are entitled to), the right to life & freedom.
    

1. 
   Traditional – no money is exchanged. Oldest economic system, used in poorer countries (ex trade 20 chickens for 2 pigs etc)
   
2. 
   Free Enterprise (Market/Capitalism) - competition among businesses determine the price of products. Some people can get really wealthy under this system, others can become very poor.
   
3. 
   Socialism – The people work together for the common good, equal pay/benefits. Ex school system, police, fire department – everyone pays a different amount of taxes based on their income but all benefit equally.
   
4. 
   Command/Communism – Central government controls all means of production of goods and services. The government benefits the most $$$ under this system.
   

Other economics terms to know…

5. 
   Globalization- similar to diffusion, where we are increasingly more connected to other countries through the internet and importing/exporting items, cultures become more alike as a result.
   
6. 
   Export- a product that is SOLD from one country to another. (Japan exports/sells electronics to America).
   
7. 
   Import-the products that a country BRINGS in/BUYS from another country. America imports/buys electronics from Japan).
   
8. 
   Developed countries/Industrialized nation – Wealthier countries, very industrialized, has a lot of technology, high standard of living, high GDP. “1^st World”
   
9. 
   Developing country- Not as wealthy as the country above, lower standard of living, low GDP.
   
10. 
    Less developed nation – Poorer countries, low standard of living, lower GDP. “3^rd World”
    
11. 
    GDP(gross domestic product) - The value of only goods and services produced within a country in a period of time. Used to measure a countries wealth. High GDP = Rich Country/Low GDP = Poor Country
    
12. 
    Standard of living –the level of wealth, comfort, material goods & necessities available. High Standard of Living = Rich Country /Low Standard of Living = Poorer Country.
    
13. 
    Renewable resource – A natural resource which can replenish (replace) itself. Sun, soil, water
    
14. 
    Nonrenewable resource – a natural resource that we have limited quantities of, or which we can or may run out of. Gasoline, coal, natural gas are examples.