Tonight is the school musical!! Also, I was late because I had to get my flu shot..which I was hyperventilating. We then covered current events and went over the Europe map. On Monday, we will start the next section of the map.
Capitalism~ An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and the reinvestment of profits gained in a free market.
Socialism~ Theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc, in the community as a whole. Or, when the government regulates the economy. Examples: Canada, Soviet Union, North Korea, and Denmark. None are truly socialism, but they are mixed, leaning more towards a government.
Absolute Monarchy~ Vatican City is an example of absolute monarchy in modern day. a leader has unlimited or absolute power over everything.
Constitutional Monarch~ A limited monarchy governed according to a constitution that limits and defines the powers of the sovereign. Canada is an example, their monarch is Elizabeth II. She is in charge under the prime minister. Other examples are: Denmark, Jamaica, Japan, Jordan, Liechtenstein, Morocco, and New Zealand.
Class dismissed.
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