IPA: /ˈɒlɪɡɑːki/
KK: /ˈɑlɪˌɡɑrki/
A type of government where a small group of people hold power and make decisions for everyone, often for their own benefit.
In an oligarchy, a few wealthy families control the country's resources and political decisions.
Oligarchy → It is formed from "oligos" (Greek, meaning few) and "archia" (Greek, meaning rule or government). The word describes a form of government where power is held by a small number of people.
Think of a small group of people ('oligos') who are in control ('archia') — that's why oligarchy means rule by a few.
No commonly confused words.