When Karl Marx Wrote About Inequality,the Feudal System (A Closed

question 80

Essay

When Karl Marx wrote about inequality,the feudal system (a closed social hierarchy)was dissolving and making way for a more open system.Why was Marx so worried about the new capitalist system that was emerging?

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Definitions:

Direct Labour Wage Rate

The hourly rate paid to workers directly involved in the production of goods or services.

Overhead Rate

The ratio of overhead costs to the base cost, used to allocate overhead to products or services.

Cost of Goods Manufactured

The total production cost of the goods completed and ready for sale, including direct materials, direct labor, and manufacturing overhead.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to individual units of production based on a specific activity like labor hours or machine hours.