The economy in the African country of Hypothetica is primarily agricultural. Most of the farms are owned by companies in western Europe or the United States. Local residents are hired on a monthly basis to work on the farms, using high-tech farm machinery. Which of the following concepts that Karl Marx introduced would be best for describing this economic system?

Question

Quizplus · Accepted Answer

The mode of production refers to the way in which goods and services are produced in a society. In this case, the mode of production is capitalist, as the farms are owned by companies in western Europe or the United States and the local residents are hired on a monthly basis to work on the farms.

The Economy in the African Country of Hypothetica Is Primarily