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• "Government by the representatives of the people" is called - Democracy.

• Democracy (Noun):
- English meaning: A system of government in which the people of a country can vote to elect their representatives.
- Bangla meaning: গণতন্ত্র; গণতান্ত্রিক দেশ; গণতান্ত্রিক সরকার/সমাজ।

• Other options:
- Autocracy: A system of government of a country in which one person has complete power.
- Bangla meaning: সীমাহীন ক্ষমতার অধিকারী শাসকের শাসন; স্বৈরতন্ত্র; স্বৈরাচার; একনায়কতন্ত্র; স্বেচ্ছাতন্ত্র; স্বৈরশাসন।

- Socialism: A set of political and economic theories based on the belief that everyone has an equal right to a share of a country’s wealth and that the government should own and control the main industries.
- Bangla meaning: সমাজতন্ত্র।

- Anarchy: A situation in a country, an organization, etc. in which there is no government, order or control.
- Bangla meaning: নৈরাজ্য; অরাজকতা; বিশৃঙ্খলা।

Source: Merriam & Webster Dictionary, Oxford Dictionary, Accessible Dictionary.