studies the effect of capitalism on labour, production, and society and supports a workers' revolution.

Socialism

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Marxism

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Luddism

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Solution

The correct option is B Marxism
Marxism is a social, political, and an economic philosophy that studies the effect of capitalism on labour, production, and society. This ideology supported a workers' revolution to overthrow the exploitative capitalists and establish a socialist order. This doctrine was developed by Karl Marx and Freidrich Engels.

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Tif Ltd., employed local workers to produce hand-woven bags as local workers were available easily. Tif Ltd. employed labour-intensive technology to leverage on skills of local workers but a newly appointed manager, Mr. Bond analysed scientifically and concluded that capital-intensive technology is the best method for Tif Ltd. as it would lower the production costs and utilise resources more efficiently than labour intensive method.

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