The term for a government ruled by a small group of people is known as an oligarchy. In an oligarchy, power is concentrated in the hands of a few individuals or families, who often maintain control due to wealth, social status, military power, or political influence. This system contrasts with democracy, where the government is elected by the majority of the populace. Oligarchies can manifest in various forms, including political parties, ruling elites, and corporate interests. The concentration of power can lead to the marginalization of broader societal interests and often results in unequal distributions of resources and opportunities.