The Two types of the oligarchies are theocracy and monarchy. Thus the first option is correct.
What is the meaning of oligarchies?
Oligarchies refers to the group of the people which is small and they govern the country or the organization. The absolute power remains in the hands of the few people. Those people are wealthy, royal and dignified.
The Oligarchies includes the two forms of the government such as Monarchy and Theocracy.
Monarchy is the form of the government in which the absolute powers are in the hands of the King or the Queen. for example the Queen Elizabeth of the England.
Theocracy is the another form of the government in which the religious leaders controls the nation or the society. For example in the Islamic countries follows the theocratic form of the government.
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