democracy
US /dɪˈmɑː.krə.si/
UK /dɪˈmɑː.krə.si/

1.
a system of government by the whole population or all the eligible members of a state, typically through elected representatives.
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The country transitioned to a democracy after decades of authoritarian rule.
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Free and fair elections are a cornerstone of any healthy democracy.
2.
a state governed by a democracy.
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The United States is a large democracy.
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Many new democracies are emerging in the world.