term1 Definition1term2 Definition2term3 Definition3
Please sign in to your Google account to access your documents:
Democracy
A form of government in which the people elect leaders and rule by majority.
Communism
A political system in which the government owns all property and dominates all aspects of life in a country.
Market Economy
A system based on private ownership, free trade, and competition.
Command Economy
A system in which the central government makes all of the economic decisions.
Gross Domestic Product (GDP)
The value of all goods and services produced within a country in a single year.
Developed Countries
Countries with a strong economy and a high quality of life.
Developing Countries
Countries with less productive economies and a lower quality of life.
Need help typing ? See our FAQ (opens in new window)
Please sign in to create this set. We'll bring you back here when you are done.
Discard Changes Sign in
Please sign in to add to folders.
Sign in
Don't have an account? Sign Up »
You have created 2 folders. Please upgrade to Cram Premium to create hundreds of folders!