Final answer:
Thatcherism refers to the political and economic policies introduced by Margaret Thatcher during her tenure as the Prime Minister of the United Kingdom. It emphasized free-market capitalism, privatization, limited government intervention, and a more individualistic society.
Step-by-step explanation:
The key elements of Thatcherism were rooted in political and economic policies introduced by Margaret Thatcher, who served as the Prime Minister of the United Kingdom from 1979 to 1990. Thatcherism embraced neoliberalism, emphasizing free-market capitalism, privatization of industries, and limited government intervention. It also advocated for a more individualistic society and strong national defense.