Well sweetie, vetocracy means that in a group or organization, only certain people are allowed to make important decisions or have the final say. These important people are called "veto players" and their opinion can stop others from making a decision.
It's sort of like when you and your friends are playing a game and one person gets to be the boss and decides the rules. If you don't like the rule, you might try to convince the boss to change it, but if the boss says no, there isn't really anything you can do about it.
Vetocracy can be good because it helps prevent bad decisions from being made, but it can also be bad because it can slow things down or prevent progress if the veto players don't agree. It's important to have balance and make sure everyone's opinions are heard.