Aristocracy: A form of government that is ruled by a few amount of people. The term “aristocracy” was coined by Aristotle.
Checks and balances: Gives each branch some power over the other two (ex: President can veto legislation passed by Congress; Congress can impeach the President, etc.)
Collective action problems: Collective action says that in order to achieve things, individuals must work together. You can do more together than you can do on your own. Situations in which the members of a group would benefit by working together to produce some outcome, but each individual is better off refusing to cooperate and reaping the benefits from those who do the work.
Democracy: a system of government by the whole population or all the eligible members of a state, typically through elected representatives.
Direct democracy: A form of government in which all laws are created by a general vote of society.
Economic individualism: The autonomy of individuals to manage their own financial decisions without government interference.
Factions: An interest group, a group of people who get together based on certain, similar ideas or interests.
Free market: An economic system based on competition among businesses without government interference. Economic individualism and free market remains central to our national identity.
Free riders: The incentive to benefit from others’ work without making a contribution, which leads individuals in a collective action situation to refuse to work together. It is in everyone’s interests to let others pay the costs – in effort and resources – to tackle the problem.
Government and governments (what, types, what it does, ideas about, sources of conflict, etc): Government refers to the institutions and procedures through which people are ruled. The system for implementing decisions made through political proves. The different forms of government are monarchy, aristocracy and polity. Government largely exists to prevent chaos.