An oligarchy is a form of government where a small group of people holds significant power and influence over a larger population. This ruling group can consist of individuals from the same social class, political party, or economic elite. In an oligarchy, the decisions made by this small group often prioritize their interests over the needs of the general public. Oligarchies can be found in various historical and modern contexts, such as in certain corporate structures or political regimes. While they can provide stability and efficiency in decision-making, they may also lead to inequality and a lack of representation for the broader population.