AP Gov Unit 4 Vocab

Equality of opportunity

The belief that all individuals should have the same chance to succeed, regardless of their background or circumstances.

Free enterprise

An economic system where private businesses operate in competition and are free from government control.

Rule of law

The principle that all individuals and institutions are subject to and accountable to the law, which is fairly applied and enforced.

Political socialization

The process by which individuals acquire their political beliefs, values, and behaviors, often influenced by family, education, and media.

Political ideology

A set of beliefs about the role of government and the policies it should pursue, often categorized into liberal, conservative, and other ideologies.

Keynesian theory

An economic theory that advocates for increased government expenditures and lower taxes to stimulate demand and pull the economy out of recession.

Supply-side theory

An economic theory that argues economic growth can be most effectively fostered by lowering taxes and decreasing regulation.

Monetary policy

The process by which a central bank manages the supply of money, often targeting inflation or interest rates to ensure price stability and economic growth.

Fiscal policy

The use of government spending and taxation to influence the economy, often aimed at promoting economic growth and stability.

Liberal ideology

A political ideology that emphasizes individual rights, social justice, and the role of government in addressing social inequalities.

Conservative ideology

A political ideology that emphasizes tradition, limited government, and individual liberties, often advocating for free markets and personal responsibility.

Libertarianism

A political philosophy that advocates for minimal government intervention in both personal and economic matters, emphasizing individual freedom.

Populism

A political approach that seeks to represent the interests of ordinary people, often opposing the elite or established institutions.

Progressivism

A political ideology that advocates for social reform, addressing issues like inequality, environmental protection, and government accountability.