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— is a belief that the individual’s loyalty and devotion to the nation or state surpasses other individual or group interests.
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.— is a belief that[…]
Read moreA loose union of independent territories
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Read more“traditional, market, and command are three –“
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Read moreSystem of government in which one person rules with unlimited power and authority
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Read more“In this kind of economy, habit and custom determine the rules for all economic activity. Individuals are not free to make decisions based on what they would like to have. Instead, their behavior is defined by the customs of their elders and ancestors.”
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Read moreDecisions of a single leader determine government policies.
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Read more“In this kind of economy, individuals and private groups make decisions about what things to produce. People, as shoppers, choose what products they will or will not buy, and businesses produce more of what they believe consumers want.”
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Read moreA form of autocracy with a hereditary king or queen exercising supreme power
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Read more“A market economy is based on the concept of — , the idea that private individuals or groups have the right to own property or businesses and make a profit with only limited government interference.”
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