Types of Governments (& Economic Related terms:Mrs. Berry, CVMS)

Democracy

A form of government based upon the recognition of individual rights and freedoms. The word "democracy" literally means "rule by the people." "Of the people, by the people, for the people."

Theocracy

A form of government where God or a deity is recognized as the supreme civil ruler. "No separation of church and state."

Dictatorship

A form of government where absolute power and control are dictated by one person "Power corrupts, and absolute power corrupts absolutely"

Oligarchy

A group of powerful elites. Self appointed groups run the show. "Thomas Jefferson warned about the tyranny of an oligarchy;..."

Monarchy

A political system where the ruler serves as the head of state "rule of one" (A government ruled by a king or queen) his or her power is limited by law "God save the Queen"

Republic

A state or country where people have a certain degree of power. "I pledge allegiance to the flag of the US of A and to the republic..."

Fascism

A strong centralized form of government with strident social and economic control. Often led by a charismatic dictator and characterized by fervent patriotism. "For the state, of the state, and by the state."

Capitalism

An economic ideology based on a free market as it relates to consumer needs. Investment is made and maintained chiefly by private individuals and corporations. "Enlightened self-interest based upon the common goo

Socialism

Economic system where the basic means of production is primarily owned and regulated by the government. "All for one and one for all."

Feudalism

Legal and social system that primarily existed in Medieval Europe. The aristocracy or elite governed, while the masses served the King in exchange for military protection. "System of protection" lords, vassals, ser

Communism

Political and Economic theory derived from the ideas of Karl Marx whereby all property is publicly owned. "Godless society which lacks motivation for improvemen

Economic

Relating to economics or the economy. The wealth and resources of a country or region, especially in terms of the production and consumption of goods and servi

Government

The governing body in charge of power of a nation, state or community