Consider the following statements about Karl Marx's views:(A) All eco…

Consider the following statements about Karl Marx's views:

(A) All economic systems are also social systems.
(B) Each mode of production consists of particular relations of production, which give rise to a specific class structure.
(C) The economy consists of things, that is, goods circulating in the market.
(D) Under capitalism, labour itself becomes a commodity, as workers sell their labour power.

Choose the correct answer from the options given below:

Answer & explanation

Correct answer: option 2

The correct answer is Option (2) → A, B and D only

(A) All economic systems are also social systems. — Correct. Marx wrote that all economic systems are also social systems, because every economy rests on ties between people.

(B) Each mode of production consists of particular relations of production, which give rise to a specific class structure. — Correct. For Marx, each mode of production has its own relations of production, and these in turn give rise to a specific class structure.

(C) The economy consists of things, that is, goods circulating in the market. — Incorrect. The statement is reversed. Marx stressed that the economy does not consist of things or goods in the market but of relations between people in production.

(D) Under capitalism, labour itself becomes a commodity, as workers sell their labour power. — Correct. Under capitalism workers must sell their labour power in the market to earn a wage, so labour itself becomes a commodity.

NCERT (2026-27): “4.2 Understanding Capitalism as a Social System
One of the founders of modern sociology, Karl Marx, was also a critic of modern capitalism. Marx understood capitalism as a system of commodity production, or production for the market, through the use of wage labour. As you have already learned, Marx wrote that all economic systems are also social systems. Each mode of production consists of particular relations of production, which in turn give rise to a specific class structure. He emphasised that the economy does not consist of things (goods circulating in the market), but is made up of relations between people who are connected to one another through the process of production. Under the capitalist mode of production, labour itself becomes a commodity, because workers must sell their labour power in the market to earn a wage. …”