How do term limits impact the functioning of the government and its citizens?

A term limit is a legal restriction that limits the number of terms an officeholder may serve in a particular elected office. When term limits are found in presidential and semi-presidential systems they act as a method of curbing the potential for monopoly, where a leader effectively becomes "president for life".

Explanation:

Constitutionally mandated term limits provide a mechanism for holding leaders accountable, reduces the tendency toward corruption by ensuring political turnover, and give new generations the opportunity to compete for political office and choose new leaders