Which political term describes a system governed by a few people?

The term that best describes a system governed by a few people is "oligarchy." In an oligarchical system, power is concentrated in the hands of a small group of individuals or families, who make decisions for the broader population. This can happen in various forms, such as through wealth, social status, military power, or political influence. Oligarchies can occur in different contexts, including governments, organizations, or industries, where the ruling group may not necessarily represent the interests of the larger society.

In contrast, democracy refers to a system where power is vested in the people, who exercise that power directly or through elected representatives. Monarchy involves governance by a single ruler, often a king or queen, who typically inherits their position. Anarchy denotes a state of society without government or authority, where there is often chaos or a lack of organized control. Understanding these distinctions clarifies why "oligarchy" is the accurate term for a system controlled by a few.