Government by the wealthy is termed as:

This question tests knowledge of different forms of government based on who holds power. Plutocracy is the correct term, specifically referring to a government or society ruled by the wealthy. The word originates from the Greek 'ploutos' (wealth) and 'kratos' (power).

• Democracy is a system where power is vested in the people, either directly or through elected representatives.
• Autocracy describes a system of government by one person with absolute power.
• Oligarchy refers to a small group of people having control of a country, organization, or institution. While a plutocracy is a type of oligarchy, it specifically emphasizes wealth as the defining characteristic of the ruling group, making it the most precise answer.