In late 19th century

In late 19th century,the term"political economy"was generally replaced by the terms of economy used by thoose seeking to place the study of economy upon mathematicals and axiomatic bases,rather than the structed retionships of production and consumption.Today,political economy, where it is not used for economic.It is available as an area of study in certain colleges and universities.It is then that political economy ntakes shapes.

Two-party are states such as India,Nepal,and Pakistan in which ther are two political parties dominant to such an extent that election success under the banner of any other party is almost impossible They dominent party opposition parties are allowed and there are may be even a deeply established democretic tradition but other parties are widely considered to have no real chance of gaining power.