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Latin Am. Political/Economic
govt. in which citizens hold power directly or through elected representatives
leader rules with military backing (Cuba)
small group has all power, socialist ideas based primarily on economy (Cuba)
economy in which goods and services are traded without exchanging money
govt. controls all economic decisions (planned economy)
nationalize an industry
govt. takes over and owns industry (Venezuela)
consumer demand controls (USA)
combination of command and market economies
materials in or on the earth with economic value (Trees, fish, coal, petrol...)
can be replaced through natural processes (trees, seafood)
can't be replaced once removed (petrol, oil, natural gas, coal)
used for making power, result of solar or planetary processes. Unlimited. (Wind, solar power, Tides)