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vocab
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Consent of the governed
To express the willingness or approval to be ruled.
Limited Government
The principle that a ruler or government is not all powerful.
Popular Sovereignty
Power rests with the people. People have the ultimate authority in deciding how the government is run.
Totalitarian / Totalitarianism
Ideology under the authoritarian type of government that does not tolerate different opinions and controls many aspects of life.
Dictatorship
In a dictatorship, one person, usually through violence takes control of all decision making from the people.
Constitutional Monarchy
A King or Queen limited by a constitution, or a set of rules, that makes them subject to the rule of law.
Absolute Monarchy
A King or Queen who completely controls the governments decision making process
Theocracy
Government operated by religious authorities who claim unlimited power in the name of god or divine power.
Republic (Representative Democracy / Democratic Republic)
Where people are elected by the citizens to speak or act on their behalf
Direct Democracy
Where citizens vote directly on laws and issues that affect the government. One person, one vote.
Traditional Economy
System in which economic questions are answered based on habit or how they have been done.
command / Communism Economy
The government controls all aspects of the economy and means of production.
Market / Capitalism Economy
System in which individuals and businesses own the means of production.
Mixed Market / Socialist Economy
A system where government owns some factors of the production (land, labor, and capital).
Oligarchy
Government power invested in a few, or a group. (can be a aristocracy or a meritocracy
Authoritarianism
All are subjected to the authority. Governing authority does not rest with the people.
Opportunity Cost
The loss of potential gain from other alternatives when one alternative is chosen.