The passage below is an excerpt from Adam Smith's The Wealth of Nations (1776). Use the passage to answer the following question
: The market price of every particular commodity is regulated by the proportion between the quantity which is actually brought to market, and the demand of those who are willing to pay the natural price of the commodity... - Why would Karl Marx disagree with Smith's statement? Marx believed the focus should be on the market and the individual.
Marx believed consumers should determine which goods are made available for sale.
Marx promoted a system without government regulation.
Marx rejected capitalist ideas such as supply and demand.
Answer: Marx rejected capitalist ideas such as supply and demand.
Explanation: Marx was essentially totally against what Adam Smith promoted. Marx was totally against the capitalist mode of production and economy, and therefore against the idea of supply and demand. According to Marxist communist ideas, production with all its goods and assets would be a social property, as such, the property of all individuals, where would not rule conditions of a free market and a liberal economy.
