to control and direct the public business of a country, city, group of people, etc.

The country has been governed by military regimes. 这个国家现在由军政府控制。

A president needs popular support in order to govern effectively. 总统需要大众的支持方能有效治理国家。

to have a controlling influence on something

Prices of goods are governed by the cost of the raw materials, as well as by the cost of production and distribution. 商品的价格不但取决于生产和运销成本，而且取决于原材料的价格。