Something like that.
The govenor arm is connected the the carb by a solid rod and the throttle pulls a spring attached to the Govenor arm.
The Govenor arm is usually clamped to a shaft that pokes out through the side of the engine.
That clamp can come loose or the govenor itself can break.
If you want anything more specific we will need to know exactly which engine is on your mower.