Governments and Economies Government governmentgvrnmnt Noun The governing

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 things like businesses and farms. �It provides its people's healthcare, education and welfare.

Oligarchy Means: Ruled by a few Those few are the people who are richer and more powerful than the others.

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 ¨ Profit is the motive for increasing work rather than quotas

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