Which term is used for a governmental system where power is held by the people through elected representatives?

The term that describes a governmental system where power is held by the people through elected representatives is representative democracy. In this system, citizens have the right to vote for leaders who make decisions and create laws on their behalf. This reflects the democratic principle that the government derives its power from the consent of the governed, allowing for a mechanism through which the public can influence policy and governance without needing to participate directly in every decision-making process.

In contrast, direct democracy involves citizens voting on laws and policies themselves, which is less common in large, modern states due to logistical challenges. Monarchy generally refers to a system where power is concentrated in a single ruler, typically a king or queen, and does not involve elected representatives. Socialism denotes an economic and political system advocating for collective or governmental ownership and administration of the means of production, rather than a specific form of governance based on representative systems.