Elite theory claims political power rests in the hands of groups of people and policy is a result of the competition between these groups.

This statement is TRUE

Explanation:

Elite theory tries to provide a description and explanation of power relationships in the modern society today. According to the theory, a small number of people (usually those of elite status in the society) and policy-planning networks holds the most political power. It also posits that this power is not dependent on democratic elections.