Define and Explain Marx's Conception of Historical Materialism

question 12

Essay

Define and explain Marx's conception of historical materialism. Discuss how the critical theorists used this idea when formulating their own concepts. Be sure to include Hegel and Lukács in your discussion.

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Definitions:

Demand

The quantity of a particular good or service that consumers are willing and able to purchase at various prices during a given period of time.

Supply Curve

A graphical representation showing the relationship between the quantity of goods that producers are willing to sell and the price of those goods.

Relatively Elastic

Describes a situation where the quantity demanded or supplied of a good or service changes significantly in response to a change in price.