Which form of government is led by a few wealthy elites?

• A. Oligarchy
• B. Monarchy
• C. Autocracy
• D. Democracy

Answer: (A)

Power held by a small group of wealthy elites is called an oligarchy. In an oligarchy, a few individuals control most of the political decisions and often use their money and influence to shape laws and policies to benefit themselves. This differs from a monarchy, where one ruler governs; from an autocracy, where one person holds all the power; and from a democracy, where the people hold the authority either directly or through elected representatives. The defining idea is that control is concentrated in a small, privileged group rather than being shared broadly.