Sociologist Karl Marx Believed That the Workers Are Exploited as Capitalists

question 131

Multiple Choice

Sociologist Karl Marx believed that the workers are exploited as capitalists maximize their profit by paying the workers less than the resale values of what they produce but do not own. Marx believed that a deep level of antagonism exists between capitalists and workers because of extreme differences in the __________ of the people in these two classes.

• A)cultural interests
• B)societal interests
• C)material interests
• D)national interests

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Definitions:

Price Elastic

Refers to the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.

Demand Schedules

A table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices over a given period.

Price Elasticity

The degree to which consumer demand for a product reacts to shifts in its price, showcasing the level of consumer sensitivity to pricing alterations.

Long Run

A period in which all inputs, including physical capital and labor, can be fully adjusted, allowing for analysis of equilibrium and efficiency without the constraints of fixed factors.