• Government & Economic Systems
• World History
• ODE Indicators
• Government: Systems of Government
1. Explain how various systems of governments acquire, use and justify their power.
2. Analyze the purposes, structures and functions of various systems of government including:
a. Absolute monarchies;
b. Constitutional monarchies;
c. Parliamentary democracies;
d. Presidential democracies;
e. Dictatorships;
f. Theocracies.
• ODE Indicators
• Citizenship Rights and Responsibilities: Participation
• 2. Describe and compare opportunities for citizen participation under different systems of
government including:
a. Absolute monarchies;
b. Constitutional monarchies;
c. Parliamentary democracies;
d. Presidential democracies;
e. Dictatorships;
f. Theocracies.
• Types of Government
• What you need to know:
Definition of Each
Advantages & Disadvantages
Examples
• Autocracy
• Dictatorship
• Totalitarian Dictatorship
• Monarchy
Absolute vs. Limited
• Theocracy
• Oligarchy
• Communist Countries
• Democracy
• Direct Democracy
• Representative (Indirect) Democracy
• Constitutional Monarchy
• Presidential Democracy
• Parliamentary Democracy
• Economic Systems
• ODE Indicators
• Economics: Markets
• 2. Explain how changing methods of production and a country's productive resources affect how
it answers the fundamental economic questions of what to produce, how to produce, and for
whom to produce.
• ODE Indicators
• 3. Analyze characteristics of traditional, market, command and mixed economies with regard to:
a. Private property;
b. Freedom of enterprise;
c. Competition and consumer choice;
d. The role of government.
• 4 Economic Systems
• Capitalism
• Command
• Traditional
• Mixed
• Examples, Advantages & Disadvantages of Each
• Economic Systems
• Economic Systems vs. Government Systems
What’s the Difference?
• 3 Basic Questions
What to produce?
How to produce?
For whom to produce?
• Capitalism
• Other Names
Market, Free Market, Free Enterprise
• Origins
Adam Smith (The Wealth of Nations)
Laissez faire
The Invisible Hand
• Characteristics
Private Ownership
Competition
Profit Incentive
• Traditional
• Command Economies
• Socialism
Equal distribution of wealth
Governmental (Society) control
Public Ownership
Democratic vs. Authoritarian
• Communism
Karl Marx
Class Warfare
Bourgeoisie vs. Proletariat
• Mixed
• No pure traditional system, pure market system or pure command system exists in today’s
world. All economies are mixed to some degree!
• International Trade
• What are the Benefits of World Trade?
• We Get More Stuff!!!
Imports
• We Get Better Stuff!!!
Competition
• We Get Cheaper Stuff!!!
Competition
• We Get Mo’ Money!!!
Exports & Jobs
• Advantages
• Absolute
Specialization
• Comparative
• U.S. Balance of Trade
• Good or Bad
• Protectionists
• Why restrict free trade?
Job Security
National Economic Security
Infant Industries
• How to Restrict Imports?
Tariffs
Quotas
Embargoes
• Financing World Trade
• The International Monetary Fund
• Currency Exchange Rate
• Trade Agreements
• World
World Trade Organization
• Regional
European Union
North American Free Trade Agreement