Question

Which is an accurate description of oligarchy? A. There is no rule. B. A small group rules. C. The people rule. D. A king rules.

Answer 1

Option B must be correct...as Oligarchy (from Greek ὀλιγαρχία (oligarkhía); from ὀλίγος (olígos), meaning "few", and ἄρχω (arkho), meaning "to rule or to command") is a form of power structure in which power effectively rests with a small number of people. 
One such example is of Russian Federation.

Answer 2

An accurate description of oligarchy is: a small group rules.

• The term "oligarchy" can be defined as the control of a small group of people.
• Like the various other prevailing structures of power, oligarchy is also a form of structure of power.
• A few examples of oligarchy may be witnessed in the case of Communist government, absolute monarchy, totalitarian government, etc.