We continued our presentations, the first one was monarchy. Monarchy is a country rules by kings and queens, absolute monarchy is a country where the monarch's have absolute control over life, and constitutional is monarch's power is limited by laws and a constitution. The second one was capitalism. Capitalism is the goverment has less authority, so prices are determined by competition, supply and demand. The United States, Canada, Mexico India, Egypt, Indonesia are some that have capitalism. The third one was Socialism. Socialism is where everything is controlled by government instead of by private organizations. The countries that have socialism are Chile, Cuba, North Korea, Venuezuala and Nicarargua. We also started taking our states and capitals map quiz. Europe is our next map quiz.
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