In the Marxian Framework,the______________comprise(s)those Who Own and Control the Means

question 68

Multiple Choice

In the Marxian framework,the______________comprise(s) those who own and control the means of production.

• A)bourgeoisie
• B)working class
• C)proletariat
• D)bureaucrats

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Definitions:

Waste of Resources

The inefficient use of materials, labor, energy, or capital that does not maximise potential utility or value.

Monopolistically Competitive

In a monopolistically competitive market, many firms sell products that are similar but not identical, allowing for product differentiation and some degree of market power over prices.

Short Run

A period in economic analysis in which at least one input is fixed while others are variable.

Long Run

the period in which all factors of production and costs are variable, allowing for all possible adjustments, including the adoption of new technology.