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What is an oligarchy?

  1. Government by the people

  2. Government by a king

  3. Government by a few powerful people

  4. Government by religious leaders

The correct answer is: Government by a few powerful people

An oligarchy is a system of government where a small group of influential and wealthy individuals hold the majority of political power. Option A is incorrect because it describes a democracy, where the people hold the power. Option B is incorrect as it describes a monarchy, where a king or queen holds the ultimate power. Option D is also incorrect as it describes a theocracy, where religious leaders hold authority. An oligarchy is specifically characterized by the influence of a small group, rather than religious leaders or the general population.