Which of the following are features of capitalism as a social system?
(A) Commodification of labour power.
(B) Caste based networks of trading.
(C) Surplus value.
(D) Rising inequalities.
Choose the correct answer from the options below.
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → (A), (C) and (D) only
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(A) Commodification of labour power → In capitalism, labour is treated as a commodity, meaning workers sell their labour power in exchange for wages.
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(C) Surplus value → A key Marxist concept, surplus value is the difference between the value produced by labour and the wages paid to the worker, which is appropriated by the capitalist as profit.
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(D) Rising inequalities → Capitalism often leads to income and wealth disparities due to profit concentration in the hands of capital owners.
Why not (B)?: Caste-based networks of trading are not a feature of capitalism itself; they are specific to certain societies like India and can exist under various economic systems. Capitalism as a social system is defined more by market relations, private ownership, and profit motive, rather than caste-based trade practices.