Aristocracy is total domination of one privileged group of minority elite, both politically and economically. Despite its glaring contrast with our modern principles, you will notice that aristocracy still exists in our modern world, having only changed in name.
Face it : Chances are high that you DO think that you know what Democracy, Communism, Capitalism, Fascism are. In fact, you are pretty sure of it. In the end, you are very probably living in a democratic country or at least you were taught all of these during your education, right ? Well... Don't be so fast. The reality of the situation is, even in developed countries majority of the population can't properly define any of these concepts, and even the ones who are well-read, college-educated, informed (that's probably you !) have major misconceptions and make major mistakes when defining these concepts. Let's have a go and see how much of the below, you actually knew - its a long journey - however a fun roller coaster ride.