Autocracy: It is a system which is part of the government where the power to run the government resides in the hands of a single person. Which means that the person is independent in taking the decisions and no external legal restrictions are put on him. It could be also termed as a dictatorship. In earlier times, it was equivalent to fewer conflicts of opinions and interests because decisions were only taken by the ruler. The best example of autocracy could be seen in the system of statehood where each state is controlled by the political party which wins an election and is run by the party’s head or Chief Minister. North Korea is the best example of an autocrat nation.