Governments & Economic Systems – Video Notes Flashcards

15 QA flashcards based on the lecture notes, covering forms of government and economic systems.

What is Direct Democracy?

When most people have a say in government and vote directly for laws.

What is Indirect/Representative Democracy?

When people vote for representatives who make the decisions (a Republic).

In Presidential Classification, who elects the leaders?

The people elect both the legislative and executive leaders.

In Parliamentary Classification, who elects the executive?

The legislature elects the executive (the prime ministerer); people elect the legislative leaders.

What is Autocracy?

One person rules; the dictator can be good or bad; no broad input from the people.

What is an Oligarchy?

Rule by a small, powerful elite group (Aristocracy is closely related).

What is Plutocracy?

Rule by the rich.

What is Corporatism?

Rule by businesses, corporations, and interest groups.

What is Fascism?

A dictatorship that rules with the support of corporations and extreme nationalism.

What is Nazism?

A racist form of fascism under a dictatorship.

What is Authoritarian?

A government that represses political and economic rights.

What is Totalitarian?

A government that has control over every aspect of life.

What is Kleptocracy?

Rule by thieves; corruption where leaders steal from the people.

What is Kakistocracy?

Rule by the incompetent; leaders who are unqualified or bad at their jobs.

What is Mercantilism?

Government aims to increase national wealth through trade, exporting more than importing, and accumulating gold/silver; merchants are important; influenced the rise of capitalism.