Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Read the passage below and answer the following question. 1) Capitalists say that market forces should determine both products and prices and that it is
Read the passage below and answer the following question. 1) Capitalists say that market forces should determine both products and prices and that it is healthy for people to strive after profits. 2) They believe the potential for profit encourages people to develop and produce new products desired by the public, while workers are motivated to work hard so that they can make as much money as possible in order to purchase most goods. 3) In contrast, socialists believe that profit is immoral, that it represents excess value extracted from workers. 4) Karl Marx made the point that because an item's value represents the work that goes into it, there can be no profit unless workers are paid less than the value of their labor. 5) Profit, then, represents an amount withheld from workers. 6) To protect workers from this exploitation, socialists believe that the government should own the means of production, using them not for profit, but to produce and distribute items according to people's needs rather than their ability to pay. The main patterns of organization of the selection are list of items and
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started