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What is a polyarchy?

What is a polyarchy? Here are some definitions.

Noun
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Examples
Critics charge that polyarchy is a system in which a small group actually rules and mass participation in decision-making is confined to leadership choice in elections.
She frames her understanding of the transformations of power from tyranny to polyarchy according to Scheler's law.
Depending on the values of these three factors, a state is located somewhere on the continuum ranging from anarchy to polyarchy to hierarchy.
Polyarchy was posited as a minimum core of regime, thus, quality of democracy was paired next to polyarchy as the "other".
Polyarchy is a system in which a small group of elites actually rules a country, and the majority can choose only to accept or refuse their leadership.
Polyarchy can be used to differentiate not only between democratic and nondemocratic regimes but also between contemporary Western democracies and earlier direct democracies.

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