CHAPTER 2CHAPTER 2

LESSON 3LESSON 3

DEMOCRACYDEMOCRACY

A governing system in which a A governing system in which a country’s people elect their leaders country’s people elect their leaders and rule by majority.and rule by majority.

The people vote to choose the leaders.The people vote to choose the leaders.

MAJORITY RULEMAJORITY RULE

A system in which the ideas and A system in which the ideas and decisions supported by the majority decisions supported by the majority of people are followedof people are followed

RIGHTRIGHT

A freedomA freedom

MONARCHYMONARCHY

The system of government in which a The system of government in which a king or a queen rules.king or a queen rules.

The king or queen inherits the The king or queen inherits the throne.throne.

DICTATORSHIPDICTATORSHIP

A governing system in which one A governing system in which one person rules with absolute authorityperson rules with absolute authority

The citizens do not get to choose The citizens do not get to choose what is best for their lives.what is best for their lives.

OLIGARCHYOLIGARCHY

A system in which a small group that A system in which a small group that is not elected controls the is not elected controls the government.government.

The citizens do not get to make The citizens do not get to make decisions, and they do not get to decisions, and they do not get to elect leaders.elect leaders.

INDUSTRYINDUSTRY

All the businesses that make one All the businesses that make one kind of product or provide one kind of kind of product or provide one kind of serviceservice

TYPES OF INDUSTRIESTYPES OF INDUSTRIES

PrimaryPrimary Natural resources like farming, fishing, miningNatural resources like farming, fishing, mining

SecondarySecondary Turning natural resources into a finished product like Turning natural resources into a finished product like

clothingclothing TertiaryTertiary

Sells and transports primary and secondary industry Sells and transports primary and secondary industry products like a trucking company or a store, also provide products like a trucking company or a store, also provide not only goods but services, banking education and health not only goods but services, banking education and health services.services.

QuaternaryQuaternary Involves research and gathering information like a Involves research and gathering information like a

scientist, accountant, architect, lawyer, and engineer.scientist, accountant, architect, lawyer, and engineer.

DEVELOPED COUNTRIESDEVELOPED COUNTRIES

A country with a well-established A country with a well-established economy generally containing all economy generally containing all four forms of industry four forms of industry

DEVELOPING COUNTRIESDEVELOPING COUNTRIES

A country with a well-established A country with a well-established economy generally containing all economy generally containing all four forms of industryfour forms of industry

GDPGDP

Gross domestic productGross domestic product The total value of the goods and The total value of the goods and

services produced in a countryservices produced in a country

SUBSISTENCE FARMINGSUBSISTENCE FARMING

Farming in which people raise only Farming in which people raise only enough food for themselves and their enough food for themselves and their familiesfamilies

FREE ENTERPRISEFREE ENTERPRISE

An economic system in which people An economic system in which people choose what to make, sell, or buy choose what to make, sell, or buy without government controlwithout government control

TYPES OF ECONOMIESTYPES OF ECONOMIES

Command economyCommand economy The government makes most of the economic The government makes most of the economic

decisionsdecisions Market economyMarket economy

The people own and control businesses.The people own and control businesses. This system benefits the average citizen.This system benefits the average citizen. The people decide which goods and services The people decide which goods and services

they will buy or produce.they will buy or produce. The people decide how to spend their money.The people decide how to spend their money. The people decide what kind of job they will The people decide what kind of job they will

have.have.