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Glossary |
| TERM | DEFINITION | |||
| absolute monarchy | Autocracy in which a king, queen, or emperor exercises supreme powers of government | |||
| aristocracy | Members of noble families and class | |||
| authoritarian | A form of government in which those in power hold absolute and unchangeable authority over the people; all dictatorships are authoritarian | |||
| autocracy | A form of government in which a single person holds unlimited political power | |||
| anarchy | The absence of government; lawlessness; in some cases political disorder | |||
| confederation | A form of political organization in which the sovereign states combine for specified purposes such as defense. The U.S. was a confederation from 1776 to 1788. | |||
| constitutional government | A monarch that has shared governmental powers with elected legislatures or serves mainly as ceremonial leader of a country | |||
| constitutional monarchy | A ruler who has shared governmental powers with elected legislatures or serves mainly as ceremonial leader of a country | |||
| democracy | A form of government in which political control is exercised by all people, either directly or through their elected representatives | |||
| dictatorship | A form of government in which the leader has absolute power and authority | |||
| direct democracy | A form of democracy in which all or most citizens participate directly by either holding office or making policy. The town meeting, in which citizens vote on major issues, is an example | |||
| fascism | A political system headed by a dictator that calls for extreme nationalism and racism and no tolerance of opposition | |||
| federal | A form of government in which powers are divided between a central government and several local governments | |||
| foreign aid | Help offered by one country to another; may be in the form of money, goods, or services | |||
| foreign policy | Politics of the federal government directed to matters beyond United States borders, especially relations with other countries | |||
| free market | System where the government does not interfere in business activity | |||
| FY | Fiscal year = 12-month period on which taxes are calculated; in the U.S. from July 1 to June 30 | |||
| GNI | Gross National Index | |||
| goods | Physically tangible objects that can be used to satisfy economic wants, including but not limited to food, shoes, cars, houses, books, and furniture | |||
| monarchy | A form of government in which a sovereign ruler such as a king or queen heads the country | |||
| oligarchy | A form of government in which a small, usually self-appointed elite holds the power to rule | |||
| opportunity cost | The foregone benefit of the next best alternative when an economic decision is made. If the class chooses to go to the library to work on their computer skills instead of having recess, then opportunity cost of the choice is having recess. | |||
| parliamentary | A form of government in which the executive branch is made up of the prime minister, or premier, and that official's cabinet | |||
| system of government | A
form of political organization, such as: |
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| services | Physically intangible actions that can be performed to satisfy economic wants, including but not limited to medical care, dental care, haircuts, education, police protection, fire protection, and national defense | |||
| theocracy | A government ruled by a religious authority claiming to rule by divine sanction | |||
| totalitarian | A government that exercises dictatorial (authoritarian) power over nearly every aspect of human dignity |
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