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7 Cards in this Set
- Front
- Back
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democracy |
a form of government in which people elect leaders and rule by majority |
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communism |
a political system in which the government owns all property and dominates all aspects of life in the country |
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command economy |
a system in which the central government makes all economic decisions |
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gross domestic product GDP |
the value of all goods and services produced within a country in a single year |
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developed country |
countries with strong economies and a high quality of life |
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developing countries |
countries with less productive economies and a lower quality of life |
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Market economy |
a system based on private ownership,free trade, and competition |
