Autocracy and Oligarchy are two distinct forms of government, with differences in their ruling methods and characteristics. Autocracy is a government system with a single leader who has all the power, similar to a dictatorship. The economy in an autocracy is typically a command or traditional system, and the government has a say in all business arrangements. In contrast, oligarchy is a government system where power lies with a small group of people, typically distinguished by wealth, military positions, family ties, or corporate positions. The term “oligarchy” is derived from the Greek word “oligos,” meaning “a few,” reflecting the limited number of people who hold power in this system.
## Key Takeaways
– Autocracy is a form of government with a single leader who has all the power, similar to a dictatorship.
– Oligarchy is a form of government where power lies with a small group of people, typically distinguished by wealth, military positions, family ties, or corporate positions.
– The economies in autocracy and oligarchy differ, with autocracy typically having a command or traditional system and the government having a say in business arrangements, while oligarchy power is controlled by a select few.
