Government JAMB

The central point of capitalism as expounded by Karl Marx; is that?

A. capitalist profit is the surplus value obtained from workers labour
B. workers are inherently incapable of being owners of their labour
C. capitalists shall always increase worker earning capacity through wages
D. capitalists shall always readily consent to workers welfare demands.

Correct Answer:

Option A – capitalist profit is the surplus value obtained from workers labour

Explanation

The central point of capitalism as expounded by Kari Marx is that capitalists’ profit is the surplus value obtained from workers’ labour.

According to Marx, workers produce more than what they get employers. The capitalist employers buy the services of labour cheap, but they sell the goods produced by labour at a rate higher than the amount spent for the payment of wages, and the maintenance of the factory. They appropriate this excess as profit.

Sunday

Share
Published by
Sunday
Tags: government

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

3 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

3 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

3 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

3 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

3 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

3 months ago