The foundation for creation of a two-party system in the United States was led by Thomas Jefferson and Alexander Hamilton during the end of the 18th century.
A system when there are two political parties in a nation, which fight over power and control of the national governance, it is known as a two-party system.
In a two-party system, the party in power is known as a ruling party and the other party is known as an opposition party.
Hence, the significance of a two-party system is aforementioned.
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