Government and Economics Review

3. assessing the relation between the cost of an undertaking and the value of the resulting benefits
7. Free-market economy; people own their own businesses and property and must buy services for private use, such as healthcare.
8. a commodity, article, or service sold abroad
10. a commodity, article, or service brought in from abroad for sale
12. when the laws and power of the country is up to one person.
13. a type of government where the citizens of the country are able to elect the nation’s leaders and vote for the laws of the country.
15. a system of money in use in a particular country

1. a type of government that is ruled by a group of people.
2. money paid regularly at a particular rate for the use of money lent
4. A strong centralized government with stringent social and economic control often led by a charismatic dictator and characterized by fervent patriotism
5. involuntary fee levied on individuals or corporations to finance government activities
6. exchange goods or services for other goods or services without using money
9. the loss of potential gain from other alternatives when one alternative is chosen
11. money that an individual or business receives in exchange for providing a good or service
14. a type of government that is ruled by kings and queens.