AP gov unit 4 vocab

Free enterprise

An economic system where private businesses operate competitively and with minimal government regulation.

Individualism

A belief in the importance of individual rights

Equality of opportunity

The idea that all individuals should have the same chances to succeed regardless of background.

Rule of law

The principle that all individuals and government officials are subject to and equal under the law.

Political socialization

The process by which people form their political attitudes

Globalization

The increasing interconnectedness of economies

Opinion poll

A survey used to measure public opinion on various issues or candidates.

Exit poll

A survey taken immediately after voters leave the polling place

Sampling error

The margin of error in polling results due to the sample not perfectly representing the population.

Focus group

A small group of people used to test political messages or gather qualitative insights.

Public opinion

The collective attitudes and beliefs of individuals on issues or candidates.

Reliability

The consistency of a poll’s results if repeated under the same conditions.

Validity

The degree to which a poll accurately measures what it claims to measure.

Democratic party

One of the two major U.S. political parties

Liberalism

A political ideology favoring government action to promote social and economic equality and to protect civil liberties.

Republican party

One of the two major U.S. political parties

Conservative

A political ideology favoring tradition

Libertarian

A political ideology favoring minimal government intervention in both personal and economic matters.

Keynesian theory

An economic theory advocating government intervention to stimulate demand during recessions.

Monetary policy

Government policy controlling the money supply and interest rates

Fiscal policy

The use of government spending and taxation to influence the economy.

Federal Reserve

The central bank of the United States that regulates monetary policy