Question

What is the correct defintion of oligarcy?

Answer 1

An oligarchy is a form of government or power structure in which a small group of people hold significant power and influence over the larger population. This group might be distinguished by factors such as wealth, family ties, corporate interests, education, or military control. Unlike a democracy, where power is more widely distributed among the populace, an oligarchy concentrates decision-making and authority in the hands of a few, often leading to the prioritization of the interests of that small group over those of the general public.