HISET Social Studies Practice 2026 - Free HISET Social Studies Practice Questions and Study Guide

An oligarchy is characterized by power being concentrated in the hands of a small group of individuals or families. This small group often holds significant authority and influence over political and economic decisions, which can lead to a lack of representation and consideration for the broader population. Unlike a democracy, where power is distributed among a larger number of elected representatives or citizens, an oligarchy limits decision-making to its elite, often resulting in governance that primarily serves the interests of those in power. This structure can emerge from wealth, military control, or lineage, where only a few individuals or organizations exert significant influence over governance.

The other options describe different governance systems. Elected representatives signify a representative democracy; power held by many suggests a more egalitarian system; and a democracy with multiple parties refers to a political system that supports diverse viewpoints and representation, which is counter to the central idea of an oligarchy.