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.

(i) Which technique of production was adopted by Tif Ltd. initially? Explain whether it will be useful.

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