New Year Wishes...!!!

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World Economies

Economy is a system in which money is transferred, obtained, or given. It is important for a country to have an  good economy so the country can have enough income to fund businesses and fund their own expenses. The economy also tells if the country's living standard is good or bad. These are called economic indicators. The following list contains the 4 indicators. 

GDP ( Gross Domestic Product)- the salary of the average family in a country 

High for good country

Literacy Rate- percentage of people who could read and write in country 

High for good country

Life Expectancy- how long an average person is expected to live in a country

High for good country

Infant Mortality Rate- number of deaths in 1,000 births 

Low for good country 

There are 3 kind of economies.

Free Enterprise System- economy in which anybody can start a business and receive income, and production of goods are based on the people, not the government, government regulations  protect the workers and consumers.  

Socialism- economy in which there are high taxes, and it operates for the welfare for all. 

Communism- economy in which it is SUPPOSED to be good, by all goods and services are shared equally, the government owns all businesses and tells what the businesses can produce and sell, they also tell the prices, and no private property is allowed, but healthcare and education is free because it is government funded.

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Governments of the World

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A government is a system that rules or governs a country. The 2 major government groups are unlimited and limited. Unlimited government is when the government has high control over the country, and citizens have few rights. Limited government is when the government has limited control, there is a constitution, and citizens have basic rights. 

The following list has

some of the major kinds of governments that fall into unlimited or limited.

Democratic Governments (have constitutions) limited

Presidential Democracy (Federal Republic)- a democracy ruled by a president

Parliamentary Democracy- a democracy ruled by a prime minister and a bicameral parliament 

Constitutional Monarchy- a democracy ruled by a king or queen with a constitution  

Communistic Governments (have no constitutions) unlimited

Theocracy- government ruled by religious leaders

Single Party State- government ruled by a single political party

Dictatorship- government ruled by a single leader

Absolute Monarchy- monarchy ruled by a king or queen, in which the rulers have full control 

Anarchy- no government in country

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