👉 In economics, an "oligarchically" defined term is a concept that refers to a system or individual where financial transactions are conducted through a single person. This means that all members of a group (such as corporations, governments, or individuals) have equal control over the means by which money is invested and used. For instance, in an oligarchic system, it would be difficult for any one individual to exert significant influence on the financial decisions made by other members of the group. Instead
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What is the definition of Oligarchical? 🙋
👉 Oligarchical refers to a system or structure in which power is divided among several individuals, often based on their status and influence within the organization. In oligarchy, each individual has significant control over the decisions of the group, but there are no formal checks or limits on those who hold power. This type of governance can lead to a situation where one individual's actions are seen as more important than those of others, leading to a lack of diversity and a lack of accountability. The term "ol
