Types of Governments & Economies

Which of the following is a type of government where a single person holds absolute power?

Match the following types of government with their definitions:

In a (a)   , the government is controlled by religious leaders.

A government where power is held by a small group of people is called an (a)   . Options: A) Oligarchy B) Monarchy C) Theocracy D) Dictatorship.

Economics is the study of

(a)   and ​

Unlimited wants fulfilled by limited resources

Which of the following is NOT a characteristic of a Traditional Economy?

The number one measure of a country’s economy is: (a)  

Within the principle of Supply & Demand, the higher the price, producers will want to produce more, while consumers are less likely to buy the product.

Fill in the blank: In a Mixed economy, the government controls (a)   parts of industries/services.​