Karl Marx Argued That

question 59

Multiple Choice

Karl Marx argued that

• A)technological change was not important in improving living standards.
• B)a free-market system would produce a low level of total output.
• C)benevolence,not self-interest,produced an effective economic order.
• D)centrally planned economies could provide a more equitable distribution of total output than capitalist economies.
• E)the unfettered market system driven by self-interest leads to the best social outcome.

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Definitions:

Production

The process of creating goods and services through the combination of labor, materials, and machinery.

Shift

This term often refers to the work period in a day during which employees are scheduled to work, commonly occurring in rotations in a 24-hour operational setting.

Valves

Mechanical devices that control the flow and pressure of liquids or gases within a system.

Productivity Increases

Refers to the significant improvement in the output of goods or services per unit of input, often achieved through optimizations, technological advancements, or process improvements.