According to Karl Marx

question 58

Multiple Choice

According to Karl Marx:

• A) the surplus value that belongs to workers is appropriated by capitalists.
• B) political forces are the prime cause of fundamental historical change.
• C) the bourgeoisie will eventually rise and overthrow the capitalistic system.
• D) the value of any commodity is determined by the opportunity costs of all factors of production.

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Definitions:

Market Economy

A system where the economy and the prices of goods and services are determined entirely by the collective actions of a country's individuals and companies.

Scarce Resources

Resources that are limited in supply and available in less quantity than the demand in an economy, necessitating allocation choices.

Quantities Demanded

The total amount of a good or service that consumers are willing to buy at a given price over a specified period.

$5.00

A monetary value equivalent to five dollars.