as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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summarize the difference between democracy and autocracy.
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the key difference between democracy and autocracy is that in a democracy power is held by the people and their elected representatives, while in an autocracy power is held by a single individual or group of individuals with absolute control. democracies are governed by various forms of law, including national laws and international laws, while autocracies do not adhere to any law and have no predetermined limits of power. democracies need to consider the opinions of their citizens and take these into account when making decisions, while autocracies are not concerned with the opinions of their citizens and can make decisions based on the motives of the ruling power.
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