Exam focus – Keypoint on Basic Concepts of Government such as Democracy, Capitalism, Socialism, Oligarchy, Totalitarianism, Feudalism
What is Democracy
Democracy is the system of Government in which all qualified adult citizens share supreme power directly or through their elected representatives. It is also defined as the Government of the people, by the people and for the people.
What are the two main types of Democracy
Direct Democracy: This is where all citizens attend the assembly and take part in the decision- making in order to govern the state or the society.
Indirect or Representative Democracy: In this type of Democracy, the citizens through election select those who will represent and govern the state on their behalf.
What are the features of Democracy or factors that make a nation democratic
Regular and periodic elections.
The assertion of the principles of the rule of law in the constitution.
Majority rule in the country.
Respect for the rights and the minority groups.
Equality before the law.
Guaranteeing fundamental human right.
The absence of class feeling in the country.
The existence of a party system.
Free and fair election.
The existence of organized opposition to Government.
Equal political right to vote and be voted for.
Government actions must be open to public criticism.
No intimidation of voters during an election.
There must be an independent judiciary.
There must be an effective process o0f changing Government.
The application of the separation of powers.
There should be a free press.
What is Capitalism
Capitalism may be defined as a political cum economic system in which all or most of the production and distribution are owned and controlled by private individuals and in which the economic activity of the Government is at a minimum.
What are the characteristics of Capitalism
Private ownership and control of all means of production and distribution.
It has aristocratic structures.
Freedom of enterprises that permit private enterprises.
Freedom of choice to consumers, workers, owners of a property.
A competition which leads to the economic rivalry.
There are many producers as well as many buyers.
The profit motive is the guiding principles.
As a market economy, all productions are intended for market.
The use of an advanced technology for a high degree of productivity.
Production is carried out in different forms.
It has highly developed occupational specialization.
Labour is regarded as a marketable commodity.
Government plays a limited role in the production and distribution of goods and services.