What does 'sovereignty' imply?

The term 'sovereignty' refers to the full right and power of a governing body to govern itself without any interference from outside sources or bodies. This concept implies that a country or government operates independently and holds the ultimate authority over its territory and the people within it. Therefore, the correct answer emphasizes the essence of 'sovereignty' as it pertains to an independent country or government.

Other options focus on specific aspects of governance or authority. For instance, while authority over foreign affairs may be a function of a sovereign state, it does not capture the complete definition of sovereignty itself. Similarly, power over local laws and control of bodies of water represent limited powers that a government may exercise but do not encompass the broader independence and ultimate authority implied by sovereignty.