Legal Definitions - oligarchy

Definition: Oligarchy is a type of government where a small group of people have all the power and control. The people who make up this group are called oligarchs.

Examples: One example of an oligarchy is the government of North Korea, where a small group of people control all aspects of the country's political and economic systems. Another example is the former Soviet Union, where the Communist Party held all the power and made all the decisions.

Explanation: In an oligarchy, a small group of people hold all the power and make all the decisions. This means that the rest of the population has little or no say in how the government is run or what policies are put in place. The examples of North Korea and the former Soviet Union illustrate this definition, as both countries were ruled by a small group of people who had complete control over the government and the lives of their citizens.