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10 Cards in this Set

  • Front
  • Back
An economic system in which the people control the means of production and methods of distribution for their own self-gain/ benefit.
Capitalism
An economic system in which the people control the means of production and methods of distribution for the benefit of the general society.
Communism
An economic system in which the government controls the means of production and methods of distribution for the benefit of the general society.
Socialism
An economic system in which the "better" people control the means of production and the methods of distribution for self-gain and the benefit of the majority ("The greater good for the greatest number").
Utilitarianism
An economic system in which the state totally controls the means of production and methods of distribution for the betterment of the state; the individual sacrifices self-gain, wealth, for the state and its imperial goals.
Fascism
A political system in which the majority of the populace rules the state for the benefit of the people. Two types: 1) direct and 2) representative.
Democracy
A political system in which a king or queen rules the state for the benefit of the people. May be 1) absolute (makes all decisions and takes all responsibility) or 2) representative/ democratic (shares power with the people).
Monarchy
A political system in which a few individuals rules the state. Usually based upon 1) social status and wealth (aristocracy) or 2) religious hierarchy (theocracy).
Oligarchy
A political system in which a single person rules the state; all decisions ultimately lie with the one individual.
Dictatorship
A branch of utilitarianism in which business leaders take it upon themselves to see that the less fortunate do not get left behind as the economy grows.
Owenism