The system or organisation for exercising authority over a body of people is called what?

Study for the IGCSE Economics CIE Section 2 on resource allocation. Practice with flashcards and multiple-choice questions, each with hints and explanations. Prepare for success!

Multiple Choice

The system or organisation for exercising authority over a body of people is called what?

Explanation:
The key idea here is identifying the body that holds political power and governs society. The system for exercising authority over a body of people is the government. It includes institutions and leaders that make laws, enforce rules, provide public services, collect taxes, and defend the country. The market, by contrast, is about how goods and services are exchanged; it doesn’t govern people. An economic system describes how a country organizes economic activity in general, not the specific body that holds political authority. The private sector refers to privately owned businesses, not the mechanism of governance.

The key idea here is identifying the body that holds political power and governs society. The system for exercising authority over a body of people is the government. It includes institutions and leaders that make laws, enforce rules, provide public services, collect taxes, and defend the country. The market, by contrast, is about how goods and services are exchanged; it doesn’t govern people. An economic system describes how a country organizes economic activity in general, not the specific body that holds political authority. The private sector refers to privately owned businesses, not the mechanism of governance.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy