chapter 1 american govt

civic engagement

voting, demonstrating, speaking out

government

system where a society elects authorities to accomplish goals and provide benefits

politics

gaining/exercising control within a govt by an association of persons with shared goals

democracy

usually capitalistic, production controlled by investors in business/industry

socialism

public or govt. control, regulation of production, directly or through regulation

oligarchy

a form of power structure in which power resides in the hands of a small, elite group of individuals or families.

capitalistic economic system

an economic system characterized by private ownership of production and the free market.

private goods

Items that are owned by individuals or corporations and cannot be consumed by others without payment.

public goods

Items available for consumption by all, not diminished by individual use.

rival goods

Goods that cannot be consumed by one person without reducing availability for others.

non-rival goods

Goods that can be consumed by multiple individuals simultaneously without impacting availability for others.

excludable goods

Goods that can be restricted to certain individuals, preventing others from using them.

non-excludable goods

Goods that cannot be restricted to specific individuals, allowing anyone to use them.

democracy

A system of government in which power is vested in the people, who rule either directly or through freely elected representatives.