Class struggle: one class lives by owning while the other lives by working that is the capitalists and the workers respectively. The relationship between the workers and the capitalists in a capitalist is like that of a knife to a throat.
Surplus value: Capitalist’s profits do not come in the process of exchanges of commodities but rather in the process of production
Accumulation of capital: the capitalists seeks more and more profits so that to accumulate more capital so as to make more profits
Monopoly: capitalists seek to achieve monopoly so as to dictate prices and thus achieve the highest possible profits
Imperialism and war: capitalists venture into in new lands and markets so as to maximize profits which eventually leads to wars among themselves and imperialism of countries
Dana05 answered the question on July 3, 2019 at 11:22
-
Discuss the Marxism theory of economic development
(Solved)
Discuss the Marxism theory of economic development
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss the contribution of John Stuart Mill to the classical theory of economic growth
(Solved)
Discuss the contribution of John Stuart Mill to the classical theory of economic growth
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss the contribution of Thomas Robert Matthews to the classical theory of economic growth
(Solved)
Discuss the contribution of Thomas Robert Matthews to the classical theory of economic growth
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss the contribution of Jean Baptiste Say to the classical theory of economic growth
(Solved)
Discuss the contribution of Jean Baptiste Say to the classical theory of economic growth
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss the contribution of David Ricardo to the classical theory of economic growth
(Solved)
Discuss the contribution of David Ricardo to the classical theory of economic growth
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss the contribution of Adam smith to the classical theory of economic growth
(Solved)
Discuss the contribution of Adam smith to the classical theory of economic growth
Date posted:
July 3, 2019
.
Answers (1)
-
What is a theory?
(Solved)
What is a theory?
Date posted:
July 3, 2019
.
Answers (1)
-
Give any seven characteristics of less developed countries
(Solved)
Give any seven characteristics of less developed countries
Date posted:
July 3, 2019
.
Answers (1)
-
Highlight some of the side effects of economic growth and economic development
(Solved)
Highlight some of the side effects of economic growth and economic development
Date posted:
July 3, 2019
.
Answers (1)
-
State the changes that a country must experience during economic transformation
(Solved)
State the changes that a country must experience during economic transformation
Date posted:
July 3, 2019
.
Answers (1)
-
Briefly explain the concept of economic transformation
(Solved)
Briefly explain the concept of economic transformation
Date posted:
July 3, 2019
.
Answers (1)
-
What is underdevelopment as used in economic development
(Solved)
What is underdevelopment as used in economic development
Date posted:
July 3, 2019
.
Answers (1)
-
Discuss any five obstacles to economic growth and economic development
(Solved)
Discuss any five obstacles to economic growth and economic development
Date posted:
July 3, 2019
.
Answers (1)
-
Highlight the disadvantages of using social indicators as a measure of economic development
(Solved)
Highlight the disadvantages of using social indicators as a measure of economic development
Date posted:
July 3, 2019
.
Answers (1)
-
Identify the disadvantages of Gross Domestic Product per capita and Gross National Product per capita
(Solved)
Identify the disadvantages of Gross Domestic Product per capita and Gross National Product per capita
Date posted:
July 3, 2019
.
Answers (1)
-
State the advantages of Gross Domestic Product per capita and Gross National Product per capita
(Solved)
State the advantages of Gross Domestic Product per capita and Gross National Product per capita
Date posted:
July 3, 2019
.
Answers (1)
-
Highlight the problems associated with using Gross Domestic Product and Gross National Product as indicators of economic development
(Solved)
Highlight the problems associated with using Gross Domestic Product and Gross National Product as indicators of economic development
Date posted:
July 3, 2019
.
Answers (1)
-
Give the definition of net property returns from abroad
(Solved)
Give the definition of net property returns from abroad
Date posted:
July 3, 2019
.
Answers (1)
-
Give the definition Purchasing Power Parity
(Solved)
Give the definition Purchasing Power Parity
Date posted:
July 3, 2019
.
Answers (1)
-
How is the Gross Domestic Product deflator calculated?
(Solved)
How is the Gross Domestic Product deflator calculated?
Date posted:
July 3, 2019
.
Answers (1)