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Name: ________________________
Extra Credit #4
Types of Governments (PG 30 of Notebook):
1) A government where one person who takes power by force? ________________
2) What is the extreme type of government for question 1? ___________________
3) What does the government in question 2 rule on the basis of? _______________
4) What is that government type like? _______________________________
5) A government ruled by a king/queen? ____________________________
6) A _________________ monarchy is where total power rests with the king/queen.
7) A _______________________ democracy is one in which people elect others to
represent them.
8) A ___________________ democracy is one where everyone has equal say in decisions of
government (the truest form of government).
9) A _______________ democracy is where there is a president who is elected and a Prime
Minister who is the majority leader of parliament.
10) A _________________________ monarchy is where the king/queen has no power.
Power is held by Parliament, which is headed by a __________________.
11) A _________________________ monarchy is where the king/queen has power limited
by a constitution. Most likely, the king/queen shares power with a
_________________________________ (Head of Parliament).
12) A government where citizens participate by voting: __________________.
13) A government ruled by a few (or small group) is an _________________.
Economic Terms (PG 25 of Notebook):
Products Per Month Exported/Imported
Country A
Country B
Country C
Exports: 6,896
Exports: 7,500
Exports: 3,000
Imports: 10,000
Imports: 5,700
Imports: 3,000
1) Which country has a trade deficit? ___________________________________________
2) What is a trade deficit? ____________________________________________________
3) Which country has a trade surplus? ___________________________________________
4) What is a trade surplus? ____________________________________________________
5) What is the difference between GDP and Per Capita GDP? ________________________
___________________________________________________________________________
6) What is the difference between domestic and international? ________________________
___________________________________________________________________________
7) What is the difference between a developed and developing country? _______________
__________________________________________________________________________
8) Any good brought in from (or bought from) another country is an __________________.
9) A short period of negative GDP growth (2 quarters) is a _________________________.
10) A long period of negative GDP growth with mass loss of jobs and low investment is a
____________________________.
11) What does economic interdependence mean? ___________________________________
___________________________________________________________________________
12) A prolonged rise in prices for products is __________________________.
13) How do supply and demand work to influence price of products? ___________________
___________________________________________________________________________
___________________________________________________________________________
14) A country that will not trade with other countries is a ______________________.
15) A country that is trying to build their industrial base is an ___________________.
16) A fee or tax placed on a trade is a ___________________________.
Economic Systems (PG 26 of Notebook):
Bank: Market Economy, Traditional Economy, and Command Economy
1) Country E is an economic system in which people produce their own goods (farming).
What type of economic system is being described? ________________
2) Country F is an economic system (capitalism in practice), which believes in free trade,
private ownership, and competition. What type of economic system is being described?
________________
3) Country G is an economic system (communism in practice), which believes in no free
trade, no private ownership, and no competition. What type of economic system is being
described? ________________
ISMs (PG 27 of Notebook):
1) Country A is based on an economic theory that thinks that everyone should take care of
each other. The government is able to help because the higher classes pay large taxes.
The purpose of this theory is that everything is done for the good of the community.
What ISM is being described here? _______________________
2) Country D is based on an economic theory which that has very competitive businesses
because of free trade and private ownership. The country has distinct social classes and
many people seem to think that only the strong will survive. What ISM is being described
here? _______________________
3) Country C is based on an economic theory, which believes everyone is equal so there is
no competition among businesses or any private property. Government controls
EVERYTHING! What ISM is being described here? _______________
Economic Agreements (PG 28 of Notebook):
1) What is the E.U.? _________________________________________________________
2) What is NAFTA? _________________________________________________________
3) What is OPEC? __________________________________________________________
4) What is the purpose of OPEC? ______________________________________________
5) What is the purpose of NAFTA? _____________________________________________
6) What is the purpose of the E.U.? _____________________________________________