The correct spelling of the word for a form of government controlled by a small group of people is "oligarchic". The pronunciation of this word is /ˌɑː.ləˈɡɑːr.kɪk/. The first syllable is pronounced with the "aw" sound as in "caught". The second syllable is pronounced with the "uh" sound as in "up". The third syllable is pronounced with the hard "g" and the fourth syllable is pronounced with the "ick" sound. Always double-check spelling to make sure you're conveying the intended meaning accurately.