noun, plural monarchies.
a state or nation in which the supreme power is actually or nominally lodged in a monarch. Compare absolute monarchy, limited monarchy.
supreme power or sovereignty held by a single person.

1300–50; Middle English monarchie < Late Latin monarchia < Greek monarchía. See monarch, -y3

antimonarchy, adjective
promonarchy, adjective

1. See kingdom. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
monarchy (ˈmɒnəkɪ)
n , pl -chies
1.  a form of government in which supreme authority is vested in a single and usually hereditary figure, such as a king, and whose powers can vary from those of an absolute despot to those of a figurehead
2.  a country reigned over by a king, prince, or other monarch

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

"rule by one person," late 14c., from O.Fr. monarchie, from L.L. monarchia, from Gk. monarkhia "absolute rule," lit. "ruling of one," from monos "alone" (see mono-) + arkhein "to rule" (see archon). Meaning "a state ruled by monarchical government" is from early 15c.
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary
monarchy [(mon-uhr-kee, mon-ahr-kee)]

A system of government in which one person reigns, usually a king or queen. The authority, or crown, in a monarchy is generally inherited. The ruler, or monarch, is often only the head of state, not the head of government. Many monarchies, such as Britain and Denmark, are actually governed by parliaments. (See absolute monarchy and constitutional monarchy.)

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Example sentences
Qatar is an absolute monarchy and adheres to a strict interpretation of Islam.
The truth is that British taxpayers bear the entire cost of the monarchy.
British knighthoods are bestowed by the monarchy but as a practical matter
  recipients are selected by the civil government.
Tonga remains the only monarchy in the Pacific.
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