Economic/Political System Project Notes

Economic Systems:

1. Capitalism

You get to keep what you earn and there is a profit motive (motive to work hard- get more money). Individual people own businesses instead of government.
Harder you work, more you get paid.
90% of people have 7% of the wealth

2. Socialism

Everyone is treated equally and everyone gets the same amount.
- Ultimate goal is to create communism.
Government owns businesses

3. mixed economy

Political Systems:

1. Practice of Communism

A political system where productive resources are owned by the public or the state. Their wealth is divided out equally or according to one’s needs.
In charge of and owns everything
No internet
Can take anything away they want to
Formations and parades

Examples

China - is taking steps to creating a free enterprise economy
- People don't know about mao zedong
- Founded communism that other countries adopted
- Killed more people than everyone, including hitler
Vietnam
Laos
North korea
Cuba
Soviet union/russia

2. Theory of Communism-Karl Marx

Founded communism
Theory definition- there is a class struggle, middle/lower class, will start a war against upper class. Overthrow wealthy. Create society where everyone is equal. Communism can only happen in industrialized countries. Vast majority of people in the country aren't well off. They will overthrow the leaders and government withers out and everyone just works for the same thing and it’s all happy.
Everyone gets paid the same no matter how hard they work

3. Absolute Monarchy

Form of government where there is one supreme leader that is passed down through royal family.
Swaziland
Saudi arabia

4. Constitutional Monarchy

Monarchy where if the leader wants something it has to be checked by parliament (and family).
Sweden
Japan
UK

5. Direct Democracy

6. Representative Democracy

7. Dictatorship

8. Anarchy

A country that has no government but believes that people can make decisions on their own.
- Absence of government

Examples

9. Oligarchy

Examples

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