What is an oligarchy?

Answer 1

ol·i·gar·chy

ol·i·gar·chy [ólli grkee]
(plural ol·i·gar·chies)
n
1. small governing group: a small group of people who together govern a nation or control an organization, often for their own purposes
2. entity ruled by oligarchy: a nation governed or an organization controlled by an oligarchy
3. government by small group: government or control by a small group of people


[Late 15th century. From Greek oligarkhia , from oligos “few” + -arkhia “-archy” (see -arch ).]


-ol·i·gar·chic [òlli grkik], adj
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Answer 2

Sophist has given you the definition. A good example of an oligarchy is the Whig rule of the United Kingdom in the 18th century.