In elitist theory power is seen as concentrated amongst a few groups or individuals, including the government. Elitist theory would suggest that only a few major pressure/interest groups, such as the NRA or AARP, actually have any influence, and that even they struggle to gain power because it is concentrated in the hands of a few members of government.
Democracy is a system of government where the citizens exercise power by voting. In a direct democracy, the citizens as a whole form a governing body and vote directly on each issue. In a representative democracy the citizens elect representatives from among themselves.
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a trader who does not hedge, but who trades with the objective of achieving profits through the successful anticipation of price movements
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The Incan Empire arose from the Peruvian mountains in about the 13th century.
The last were conquered by the Spanish in 1572.
So they were farmers in South eastern Peru, before they decided to expand, who lived in and around Peru and, at their peak, much of South America, and who ruled for about 300 years.
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