SSC MTS EXAM

Detailed explanation-1: -Oligarchy (from Greek (oligarkhía) ‘rule by few’; from (olígos) ‘few’, and (arkho) ‘to rule or to command’) is a conceptual form of power structure in which power rests with a small number of people.

Detailed explanation-2: -An oligarchy is a form of government in which the ruling power is in the hands of a few leaders.

Detailed explanation-3: -Answer and Explanation: Members of an oligarchy typically will pass on their position to their heirs of other family members; however, this is not a requirement of an oligarchy. There is often no custom or tradition that dictates a transfer of power when an oligarch dies or steps down.