Monarchy

The video explains monarchy as a form of government where leadership is often hereditary. It distinguishes between absolute and constitutional monarchies, highlighting the power dynamics and roles within each. Absolute monarchies centralize power with the monarch, often leading to command economies and crony capitalism. In contrast, constitutional monarchies limit the monarch's power, emphasizing democratic principles and often aligning with capitalist or socialist economies.

What is a key characteristic of a monarchy?

• The head of state is a monarch, often hereditary.

• The head of state is elected by the people.

• The head of state is a president.

• The government is always democratic.

In an absolute monarchy, who holds the power?

• The citizens

• The judiciary

• The monarch

• The elected parliament

Which type of monarchy is characterized by limited power of the monarch?

• Absolute monarchy

• Constitutional monarchy

• Military dictatorship

• Oligarchy

What type of economy is often associated with absolute monarchies?

• Mixed economy

• Command economy

• Free market economy

• Traditional economy

How do constitutional monarchies typically manage their economies?

• By centralizing all economic decisions with the monarch

• Using democratic principles ranging from capitalism to socialism

• With a focus on crony capitalism

• Through command economies