ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Communism, also known as a command system, is an economic system where the government owns most of the factors of production and decides the allocation of resources and what products and services will be provided. The most important originators of communist doctrine were Karl Marx and Frederick Engels.

Detailed explanation-2: -Marx believed that in a capitalist system, society would inevitably divide themselves into two classes – the business owners and the workers. The workers would produce the material goods and conduct all the labor, while the owners would reap all the financial and social benefits.

Detailed explanation-3: -The Father of Communism, Karl Marx, a German philosopher and economist, proposed this new ideology in his Communist Manifesto, which he wrote with Friedrich Engels in 1848. The manifesto emphasized the importance of class struggle in every historical society, and the dangerous instability capitalism created.

Detailed explanation-4: -Communism. Communism is a form of government most closely associated with the ideas of Karl Marx, which he outlined in The Communist Manifesto.

Detailed explanation-5: -Communism is thus a form of socialism-a higher and more advanced form, according to its advocates.