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Economics and Politics (Economic System (Market Economy (Advantages…

- - - - Innovation
      - Efficiency: fewer costs means more competitive which results in money
      - large variety of goods and services
      - Increase in change of wealth
    - - Gap between the rich and poor (rich get richer, poor get poorer)
      - Not regulated by the government
      - Environmental damage and poor working conditions in order to reduce costs
    - - Low tax rates
      - Minimal rules on businesses
      - Capitalist system
  - - - All services provided
      - Citizens ensured minimum standards
      - Stable
    - - Restriction of freedom
      - No innovation
      - No motivation to work
    - - Based on agriculture and natural resources
        
        Private farmers allowed by government to sell goods and farm on experimental ground
  - - - Consumer production
      - Individual incentive
      - Basic social services
    - - Higher taxations
      - Less working motivation
      - Individuals have little input on tax spendings
    - - Welfare
        
        Housing Aid
        
        Aid for children
        
        Healthcare
        
        Food Stamps
      - Unemployment Benefits
- - - - :question: A state governed by all eligible members of the population through elected representatives
      - :!: Characterized by free and fair elections, the rule of law, free speech and press, the right to assembly, and freedom of religion
      - :!: Politicians may be more concerned with re-election than the good of the country
      - Democracy for the Future
    - - :question: A state governed by a single individual or a small group of people with unlimited power
      - :!: Usually has strong military presence
      - :!: Strives to control all aspects of citizens' lives
      - :!: Citizens have no influence on government
      - Countries with an autocratic government
        
        North Korea
        
        Ruled by a single dictator (Kim Jong Un) who has full political power over the country and decisions made for the country.
        
        Cuba
        
        Communist political system principle : "One state One party"
        
        China
        
        The citizens of China have no right in electing their president. The president is elected by the National People's Congress which is a high state body.
        
        Egypt
        
        Greater power consolidation for military and presidency to amend constitution and decrease power held by Egyptian parliament.
      - Autocracy Shown in Countries
      - Hitler goes down as an autocratic leader in history
- - - - Angola
        
        Oil rich, dirt poor (war after effects)
      - Mali
        
        Lack of resources
        
        Uneducated population
      - Togo
        
        Over 80 percent of Togo's rural population are under the global poverty line
      - Top 10 Underdeveloped Countries
  - - - Mexico
        
        High GDP per capita
        
        Large number of people in poverty
        
        Low quality of health care
        
        Limited access to clean water
      - Russia
        
        Widespread poverty
        
        Low living standards
        
        Most economy comes from export of natural resources
        
        Lower infant mortality rate
      - Brazil
        
        Largest economy in South/Central America
        
        Low GDP per capita
        
        Low living standards
        
        High infant mortality rate
  - - - Canada
        
        Diverse economic base (eleventh largest economy in the world.
        
        natural resources (oil, coal, gas)
      - United States of America
        
        World's largest economy
        
        High living standards, world class services
      - Japan
        
        High standard infrastructure, social services and health care