ANSWER
A system of government in which a small group holds power is called an oligarchy.
WHAT IS OLIGARCHY
An oligarchy is a type of governance where a small number of people, a particular group, or a class rules. This group governs a community by putting their own interests, riches, and power above of those of the general populace.
CHARACTERISTICS
- Concentration of Power - This group is identified by military, corporate, religious, or familial control, wealth, education, and royalty.
- Absence of Involvement - The general public rarely, if ever, has a say in political matters, which frequently leads to a dearth of democratic representation and involvement.
- Elite Rule - Rather than being chosen through a democratic process or on the basis of their political merit, those in positions of power under an oligarchy frequently do so due to their connections, wealth, or prestige.
- Wealth and Influence - Economic and political power are often linked, with affluent people and families leveraging their money to keep and increase their hold on the government and society.
