What does the term "oligarchy" refer to?

The term "oligarchy" specifically refers to a form of government in which power is concentrated in the hands of a small group of individuals or families. This small group could be distinguished by various factors, such as wealth, social status, education, or military control. Oligarchies often exert significant influence over the broader population, typically prioritizing the interests of the elite group over the general populace.

In contrast, the other options describe different forms of governance. A government ruled by a single individual is known as a dictatorship or monarchy, while a democracy emphasizes broad participation among its citizens. A military government implies rule by armed forces, which can sometimes align with oligarchic principles but is distinct in its primary association with military leadership rather than a diversity of elite interests. Thus, the correct identification of oligarchy is found in its definition as a government led by a small, select group.