What Did Karl Marx Argue

question 24

Multiple Choice

What did Karl Marx argue?

• A) that a classless society would emerge when capitalism triumphed around the world.
• B) that individual economic theories were only as effective as those who practiced them.
• C) that workers who knew they would be given a competitive wage would be the most loyal to a company.
• D) that capitalists would eventually bring about their own destruction by driving impoverished workers to revolt.
• E) that only be introducing Biblical principles in the workplace could their was harmony between business owners and their workers.

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Definitions:

Price Cuts

A reduction in the selling price of goods or services, usually to stimulate demand or compete more effectively.

Price War

Successive, competitive, and continued decreases in the prices charged by firms in an oligopolistic industry. At each stage of the price war, one firm lowers its price below its rivals’ price, hoping to increase its sales and revenues at its rivals’ expense. The war ends when the price decreases cease.

OPEC

The Organization of the Petroleum Exporting Countries, a group of oil-producing nations that coordinates policies to control the supply and influence the price of oil on the global market.

Oil Cartel

An alliance of oil-producing countries or companies that agree to control oil production levels and prices, often to exert influence on the global market.