What Did Karl Marx Argue About Class Relations

question 120

Multiple Choice

What did Karl Marx argue about class relations?

• A) The bourgeoisie consists of those who must sell their labour to those who own the means of production.
• B) The proletariat consists of those who own the means of production.
• C) Class relationships involve inequality and exploitation.
• D) Wealth,prestige,and power are all important in determining a person's class position.

---

Definitions:

Duopolists

Two firms that dominate a particular market, often engaging in strategic interaction that impacts pricing, production, and market share.

Collude

When two or more firms work together to control prices, limit supply, or thwart competition in a way that distorts market outcomes.

Monopoly Price

The price a monopolist sets, which is higher than the competitive price, due to the lack of competition in the market.

Competitive Level

Competitive level refers to the intensity of rivalry among firms in a market, affecting pricing, innovation, and market strategy.