Government is there for order, to create laws to provide safety and security to people, they fund public education, they enforce rules, they communicate with other Nations and represent the people.
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Anarchy
The result of having no government, known as chaos.
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Functions of Government
Includes leadership, order, services, security, and economic functions.
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Leadership
Government officials making decisions on behalf of the people.
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Order
Conflict is inescapable; order is to enforce laws that mitigate the amount of conflict that occurs between people.
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Services
Government services promote public health and safety. Examples include public schools, fire department, law enforcement, and driver's license.
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Security
Government has to protect the people against attack by another country or terrorists.
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Economic Function
Governments negotiate trade deals (taxes and tariffs) while protecting businesses important to their economy.
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Nation
A sizable group of people who believe themselves united by common bonds of race, language, custom, or religion.
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State
A political community that occupies a definite territory and has an organized government.
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Country
Has the same meaning as a state.
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Sovereignty
Its government makes and enforces its own laws without approval from any other authority.
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Features of the State
Includes population, territory, sovereignty, and government.
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Population
States must have people; without them, there is no one to govern.
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Territory
A state has established boundaries, which are normally determined through conflict with other states.
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Origins of the State
Theories on how the first governments came about include Evolution Theory, Force Theory, Divine Right Theory, and Social Contract Theory.
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Evolution Theory
A government was started by families and nations came from one family.
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Force Theory
One person or small group of people used violence or threat of violence to control people.
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Divine Right Theory
The idea that certain people were chosen by 'gods' to rule over them.
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Social Contract Theory
States exist to protect people, who gave up their rights to the government for the promise of order and protection.
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Unitary System
A system of government that gives all key powers to the central government.
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Confederacy
A loose union of independent and sovereign states.
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Federal System
A government that divides and shares the powers of government between the national and state or provincial government.
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Constitution
A plan that provides rules for government and states the rights of the people.
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Constitutional Government
A government in which a constitution has the authority to place clearly recognized limits on the powers of those who govern.
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Authoritarian Government
Governments that control all aspects of citizens' economic, political, and social lives.
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Democratic Government
Governments that give people economic, social, and political freedoms.
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Totalitarian Government
Governments that have total control; breaking the rules can lead to death or imprisonment.
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Dictatorship
Power is held by a single individual with total control.
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Autocracy
One person holds unlimited power.
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Oligarchy
Power is held by a small group deriving authority from wealth, social position, party leadership, or military power.
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Monarchy
A form of government in which one person has great power; a king or queen, or emperor inherits the throne.
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Feudalism
A system of government where nobles offered protection and land to their subjects in return for their service.
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Absolute Monarchy
The monarch holds unlimited power.
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Constitutional Monarchy
Monarch's powers are limited by law and often shared with elected bodies.
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Republic
A government in which voters hold sovereign power; elected representatives, responsible to the people, exercise that power.
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Rule by the People
Power is exercised directly or through representatives.
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Accountability
Elected officials can be voted out or legally removed if they fail to respond to citizens' interests.
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Direct Democracy
Citizens vote directly on issues and laws.
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Representative Democracy
Citizens elect representatives to make laws and conduct government.
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Early Exclusions
Initially, voting rights were limited to wealthy landowners, merchants, or professionals in Europe, including Great Britain.
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Expansion of Voting Rights
Over time, voting rights extended to workers, minorities, and women, marking a gradual shift towards more inclusive democracies.
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Institution
establishment, practice, or social organization
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False Labels
Some governments claim to be 'democratic' or 'republics' while functioning as authoritarian regimes.
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Citizen Participation
Active involvement of citizens in government is both a right and a duty.
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Regular Free and Fair Elections
Elections should be held regularly with every eligible citizen having the right to vote and run for office.
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Accepting the Results of Elections
Accepting the outcome of free and fair elections is crucial for a functioning democracy.
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Rule of Law
No one is above the law; all individuals and officials must obey and be held accountable under the law.
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Majority Rule with Minority Rights
Decisions are made based on majority rule, but minority rights must be protected.
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Transparency
Government actions should be open to public scrutiny.
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Limited Government and a Bill of Rights
Government powers are limited by a document outlining citizens' rights and freedoms.
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Control of Abuse of Power
Mechanisms to prevent corruption and misuse of power.
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Economic Freedom
Citizens have the right to private ownership and choice in economic activities.
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Equality
All individuals should be valued equally and free from discrimination.
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Individual or Human Rights
Basic rights granted to all individuals simply by virtue of being human.
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Independent Judiciary
In Democracy the judicial system needs to be fair and impartial.
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Competing Political Parties
A political party is a group of individuals with broad common interests.
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Economics
the study of how people and nations use their limited resources to attempt to satisfy wants and needs.
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Government regulation
rule or procedure that has the force of law.
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Factors of Production
Every economy has these factors: Producers; Distributors; Consumers; Labor; Resources; Financial Capital; Entrepreneurs.
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Scarcity
Limited resources versus unlimited wants.
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Resource Allocation
How resources are distributed to achieve various goals.
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Land
Natural resources available for production.
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Labor
Human effort and skills used in production.
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Capital
Tools, equipment, and facilities used in production.
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Entrepreneurship
The ability to combine other factors of production to create goods and services.
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Market Economy
An economic system where decisions are guided by the interactions of citizens and businesses in the marketplace.
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Command Economy
An economic system where the government makes all decisions about production and distribution.
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Mixed Economy
An economic system combining elements of both market and command economies.
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Households
Individuals or groups living together making decisions about consumption and labor.
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Firms
Businesses or organizations that produce goods and services.
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Government (in economics)
The entity that makes and enforces rules for the economy.
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Government Regulation
Government regulation refers to the rules and laws enacted by government authorities to control or influence economic activities.
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Market Failure Correction
Addressing issues like monopolies, externalities, and public goods.
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Consumer Protection
Ensuring product safety and truthful information.
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Economic Stability
Mitigating economic fluctuations and fostering stable growth.
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Equitable Distribution
Promoting fairness and reducing income inequality.
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Antitrust Laws
Prevent monopolies and promote competition.
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Environmental Regulations
Control pollution and protect natural resources.
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Labor Laws
Ensure fair wages, safe working conditions, and workers' rights.
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Financial Regulations
Oversee financial institutions to ensure stability and transparency.
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Resources
(land, labor, capital, entrepreneurship).
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Economic Systems
(market, command, mixed).
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Economic Agents
(households, firms, government).
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Role of Government Regulation
Balancing efficiency with fairness, protecting consumers, and ensuring economic stability.
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Capitalism
Capitalism is an economic system where private individuals or businesses own and control the means of production and distribution of goods and services.
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Private Property
Ownership of assets by individuals or businesses.
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Market Competition
The rivalry among businesses to attract customers.
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Profit Motive
The incentive for businesses to maximize profits.
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Limited Government Intervention
Minimal government involvement in economic activities.
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Innovation and Technological Advancement
Encouragement of innovation through competition and profit motives.
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Economic Growth
Promotion of increased production and economic expansion.
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Increased Standards of Living
Provision of a variety of goods and services.
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Consumer Choice
Wide range of products and services for consumers to choose from.
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Entrepreneurial Freedom
Opportunities for individuals to start and manage businesses.
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Incentive for Efficiency
Businesses seek to maximize profits by minimizing costs and increasing revenues.
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Price Mechanism
Competition drives prices down and improves product quality.
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Income Inequality
Potential for significant disparities in wealth and income distribution.
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Market Failures
Issues such as monopolies, externalities, and public goods that may not be efficiently provided by the market.
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Economic Instability
Susceptibility to economic cycles of boom and bust.