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Foundations of Govt
Chapter 1 Govt
Term | Definition |
---|---|
anarchy | a state without laws or government |
sovereignty | absolute authority within territorial boundaries |
social contract | people surrender power to the state to maintain order and protect citizens |
confederacy | a loose union of independent and sovereign states |
federal system | a govt. that divides the power between a national and state government bodies |
oligarchy | system in which a small group of elites or military hold power |
republic | a system in which people elect representatives to govern in their name |
capitalism | economic system emphasizing freedom of choice and individual liberties |
laissez faire | economic philosophy that govt. should not interfere in the economy |
mixed economy | economic system in which the govt. regulates some aspects of the economy |
socialism | economic system in which the govt. owns the basic means of production, distributes the products, and provides services to the public |
command economy | economic system in which the govt. makes all economic decisions, such as what to produce and who to distribute goods to |
bourgeoisie | the capitalist class who own the basic means of production (captains of industry) |
proletariat | the working class who produce the goods in factories |