Which Theorist Made the Assertion That Capitalism Is Based on the Pursuit

question 111

Multiple Choice

Which theorist made the assertion that capitalism is based on the pursuit of profit and the sanctity of private property and further argued that profit is produced through the exploitation of the working class?

• A) Emile Durkheim
• B) Georg Simmel
• C) Karl Marx
• D) Auguste Comte

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Definitions:

Purchasing Power

The ability of an individual or group to buy goods and services, often considered in terms of the amount of goods and services that one unit of currency can buy.

Real Interest Rate

Adjusted interest rate for inflation, reflecting the true cost of borrowing or the real yield on savings.

Nominal Interest Rate

The interest rate before adjustments for inflation, representing the raw interest percentage that lenders charge borrowers for the use of money.

Inflation Rate

The speed at which the aggregate price level for goods and services goes up, undermining the power of purchasing.