An oligarchy is a political system where a small group of individuals or entities hold significant power, often prioritizing their interests over the broader populace. This concentration of power can manifest through wealth, social status, or control over critical resources. In an oligarchic system, decision-making often lacks transparency and accountability, which may lead to policies that benefit the elite, exacerbating inequalities and diminishing public trust in governance. The power dynamics in an oligarchy can stifle political participation and limit the ability of ordinary citizens to influence governmental processes.