Monarchy is a type of
government which no longer exists in any
practical form in any major
countries. There are, however, many monarchies
kicking about, like
England,
Belgium,
Norway and
Spain.
Monarchies are ruled in theory by a King or a Queen, or by both. The position of monarch is hereditory according to really complicated rules depending on whose country it's in.
Monarchies tend to actually be governed by democratic means, like England for example.