Choose the correct one-word substitute for: 'A political system based on the rule of the wealthy' .

Question

Choose the correct one-word substitute for: 'A political system based on the rule of the wealthy' .

1. A. Oligarchy
2. B. Aristocracy
3. C. Plutocracy (Correct answer)
4. D. Meritocracy

Correct Answer

Option C — Plutocracy

Detailed Solution & Explanation

The correct answer is Plutocracy.

Key Points

• Plutocracy is rule by the wealthy, from Greek *ploutos*, "wealth".
• The distractors name different bases of rule:
  • Oligarchy — rule by a small group, whatever their qualification
  • Aristocracy — rule by a privileged hereditary class or "the best born"
  • Meritocracy — rule by those of demonstrated ability

Additional Information

• The wider family worth learning together: democracy (the people), autocracy (one person with absolute power), theocracy (religious authority), bureaucracy (officials), technocracy (technical experts), gerontocracy (the old), matriarchy and patriarchy, and anarchy (no government).
• Kleptocracy — rule by thieves, where leaders exploit the state for personal wealth — is closely related to plutocracy and increasingly asked.
• These questions reward knowing the Greek root rather than memorising definitions: *ploutos* wealth, *demos* people, *kratos* power, *archein* to rule.