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| the institution through which a society makes and enforces its public policies |
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| a form of government in which a single person holds unlimited political power |
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| The social class between the aristocracy and the proletariat class; the middle class |
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All the human-made resources that are used to produce goods and services
someone who owns capital and puts it to produce goods and services |
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| Centrally Planned Economy |
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| a system in which government bureaucrats plan how an economy will develop over a period of years |
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| the body of fundamental laws setting out the principles, structures and process of a government |
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| a joining of several groups for a common purpose |
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| an adjustment of opposing principles or systems by modifying some aspect of each |
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| an ideaology which calls for the collective or state, ownership of land and other productive property |
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| collective or state ownership of the means of production |
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| a large grouping of several collective farms |
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| a form of government in which the leader has absolute power and authority |
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| a form of government in which the supreme authority rests with the people |
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| Basic principle of federalism; the constitutional provisions by which governmental powers are divided on a geographic basis(between the national gov and state) |
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| the power to execute enforce and administer law |
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| an individual with the drive and ambition to combine land, labor, and capital resources to produce goods or offer services |
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| a form of government in which powers are divided betweeen a centeral government and several local governments |
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| basic resources which are used to make all goods and services |
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| A plan which projects economic development over the next five years |
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| an economic system characterized by private or corporate ownership of capital goods; investments that are determined by private decision rather than by state control, and determined in the free market |
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| a theory which suggests that government should play a very limited role in society |
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| a law which states that when supplies of goods and serveces become plentiful, prices tend to drop. when supplies become scarcer prices go up |
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| the power to make a law and to frame public policies |
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| a firm that is the only source of a product or service |
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| economic system in which decisions on production and consumption of goods and service are based on voluntary exchange of markets |
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| an economy in which private enterprise exists in combination with a considerable amount of government regulation and promotion |
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| a form of government in which the power to rule is held by a small, usually self-appointed elite |
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| a form of government in which the executive branch is make up of the prime minister or premier and that officials cabinet |
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| a form of government in which the executive and legislative branches of the government are seperate, independent, and coequal |
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| all of the many goals that a government pursues in all of the many areas of human affairs in which it is involved |
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| the process of returning national enterprises to private owners |
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| the power to interpret laws, to determine their meaning, and to settle disputes within society |
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| a philosophy based on the idea that the benefits of economic activity should be fairly distributed |
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| a body of people living in a defined territory who have a government with the power to make and enforce laws withouth the consent of any higher authority |
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| having supreme power within its own territory; neither subordinate nor responsible to any other authority |
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| a device by which several corporations in the same buisness work to eliminate competition and regulate prices |
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| a centeralized government in which all the government powers belong to a single, centeral agency |
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| countries that provide extensive social services at little or no cost to the users |
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