ECONOMICS
ECONOMIC SYSTEMS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Oligarchy
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Monarchy
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Autocracy
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Democracy
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Detailed explanation-1: -Such a system is known as representative democracy.
Detailed explanation-2: -Representative democracy, also known as indirect democracy, is a type of democracy where elected people represent a group of people, in contrast to direct democracy.
Detailed explanation-3: -A democratic system of government is a form of government in which supreme power is vested in the people and exercised by them directly or indirectly through a system of representation usually involving periodic free elections.
Detailed explanation-4: -A representative democracy is an indirect democracy where sovereignty is held by the people’s representatives. A liberal democracy is a representative democracy with protection for individual liberty and property by rule of law.
Detailed explanation-5: -Direct democracy is a type of government where all citizens participate directly in making decisions about the laws and policies that govern them. Indirect democracy, on the other hand, is a type of government where citizens elect representatives to make decisions for them.