Freedom
This founding document says all people are given “unalienable rights” by their Creator.
What is the Declaration of Independence?
The idea that government power comes from the people.
What is popular sovereignty?
An economic system based on voluntary exchange rather than government control.
What is the free market?
The first ten amendments to the Constitution.
What is the Bill of Rights?
An economic system where individuals own businesses and make decisions.
What is capitalism?
This amendment protects freedom of speech, religion, press, assembly, and petition.
What is the First Amendment?
Each branch of government can limit the others.
What are checks and balances?
When prices rise, consumers buy less.
What is the law of demand?
The branch that makes laws.
What is the legislative branch?
A system where the government typically owns major industries.
What is socialism?
This principle guarantees fair legal procedures before the government can take life, liberty, or property.
What is due process?
The first U.S. government system, replaced for being too weak.
What were the Articles of Confederation?
Government payments that artificially support an industry.
What are subsidies?
The opening section that begins “We the People…”
What is the Preamble?
Competition between businesses that drives innovation and lower prices.
What is market competition?
This movement in the 1960s expanded civil liberties and equal protection under the law.
What is the Civil Rights Movement?
This principle requires government officials to follow the Constitution, even when unpopular.
What is the rule of law?
Government rules or restrictions that unintentionally slow economic growth or entrepreneurship.
What is overregulation?
Article II of the Constitution establishes this office.
What is the presidency?
A socialist policy where the government provides services funded by high taxes.
What is redistribution (or welfare-state policies)?
This concept describes freedom from government interference in personal life.
What is individual liberty?
The Founders believed that concentrated power becomes dangerous because humans are tempted to abuse it.
What is the principle of separated powers?
(or “power corrupts”)
The idea that individuals, not bureaucrats, make the most efficient economic decisions because they know their own needs best.
What is the principle of dispersed (local) knowledge?
Amendments require two-thirds of Congress to propose and this fraction of states to ratify.
What is three-fourths?
This economic critique argues central planners can’t allocate resources efficiently because they lack market information.
What is the economic calculation problem?