A government ruled by a king or queen is known as a monarchy. In a monarchy, the monarch holds significant authority and often serves as a symbolic figurehead for the state and its people. Monarchies can be absolute or constitutional. In an absolute monarchy, the monarch has almost complete power over the government and its policies, while in a constitutional monarchy, the treasury and government powers are limited by a constitution or laws, delegating most political authority to elected representatives. Countries like the United Kingdom and Sweden exemplify constitutional monarchies, where the royal family plays a ceremonial role while the actual governance is managed by elected officials.