Capitalism was abolished after the Russian Revolution.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

False

True

answer is A.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The above statement is true.
Capitalism was abolished after the Russian Revolution. Karl Marx wanted the workers to overthrow capitalism. He was a well-known communist supporter. He contended that the relationship between capitalists and labour was exploitative, resulting in class disputes. The owners of factories and businessmen profited from the labour of the workers. The bourgeoisie was responsible for worker exploitation. The revolutionaries were inspired by his ideas and desired a society where everyone earned their salaries based on labour. Capitalists were interested in expanding their businesses and increasing their earnings. He emphasised the importance of workers replacing capitalism with a communist economic system.

Watch 3-min video & get full concept clarity