An oligarchy is best defined as a government ruled by a dictator.
a government ruled by a monarchy.
a government ruled by a small, elite group.
a government led by a large, select group.

The correct answer is C. A government ruled by a small, elite group.

Explanation:

Oligarchy is the name of a form of government whose main characteristic is that power is concentrated in a small and selected group of people, one of its characteristics is that this group of people generally belongs to the same family, political party, social class, among others. Another characteristic of this system is that the group that has administrative power also controls social and economic policies in favor of their interests. Therefore, the correct answer is C. A government led by a small,  group of people.