A government led by a few individuals is referred to as an oligarchy. In an oligarchic system, power is concentrated in the hands of a small, elite group, often defined by factors such as wealth, family ties, corporate interests, or military control. This structure can lead to a lack of accountability and can marginalize the majority of the population. Unlike a democracy, where power is vested in the populace, an oligarchy often results in decision-making that primarily benefits the ruling elite, potentially at the expense of broader social welfare.