REALWAP LIBRARY

I INTRODUCTION Democracy  (Greek  demos, ”the people”; kratein, “to rule”), political system in which the people of a country rule through any form of government they choose to establish. In modern democracies, supreme authority is exercised for the most part by representatives elected by popular suffrage. The representatives may be supplanted by the electorate according to the legal procedures of recall and referendum, and they are, at least in principle, responsible to the electorate. In many democracies, such as the United States, both the executive head of government and the legislature are elected. In typical constitutional monarchies such as the United Kingdom and Norway, only the legislators are elected, and from their ranks a cabinet and a prime minister are chosen. Although often used interchangeably, the terms democracy and republic are not synonymous. Both systems delegate the power to govern to their elected ...

                                                            INTRODUCTION             Socialist economy is based on central planning of all economic activities as opposed to the capitalist market price mechanism. Karl Marx (1818-1883) was the founder of the modern socialism.             In Africa, countries like Ethiopia, Tanzania, Angola, Burkina Faso, Guinea and Mozam Bisque have experimented and some are still experimenting various shades of socialism.                     ...