Economics Test 11/30

Government

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Terms in this set (60)

an established system of political administration by which a nation, state, society, or organization is ruled

punish evil and reward good

Two primary aims or objects of any government

that part of the economy composed of individuals, households, and business.

that part of the economy dominated by national and local governments

the study of national and international economics

study of specific components within a major economy and how the choices made by individuals, households, and business affect that economy

in a country with a market economy, most economics decisions are made by the ________

who believed that the government should not interfere more than necessary in a nations economy

an economic system based upon collective ownership and control of national resources

excessive taxation

one of the governmental practices which have harmed economic systems over the centuries