Which term describes a government ruled by a few powerful people?

The term that describes a government ruled by a few powerful people is oligarchy. In an oligarchic system, a small group possesses significant control and influence over political power and decision-making, often prioritizing their own interests over the wider population. Oligarchies can arise in various contexts, including economic elites or a specific class holding power, and this can lead to inequality in governance and resource distribution.

In contrast, democracy typically involves broad participation from the general population in the decision-making process, emphasizing equal representation and the majority's rule. Anarchy refers to a state of society without a governing authority, leading to disorder rather than a structured ruling class. Monarchy involves a single ruler, such as a king or queen, often inheriting power, which is distinctly different from the concept of a few individuals wielding control over the government. Thus, the concept of oligarchy accurately reflects a situation where power is concentrated in the hands of a small, elite group.