Political and Economic Systems

Capitalism is defined by private ownership (B), profit motive (C), and supply-demand market mechanisms (D). Financial risk is inherent to capitalism through investment, entrepreneurship, and market competition, making risk elimination (A) the exception.

"The Republic" is Plato's seminal Socratic dialogue exploring justice, the ideal state, and the philosopher-king. Written around 375 BC, it's one of the most influential works in political philosophy. Marx and Engels wrote much later (19th century), while Freud developed psychoanalysis.

Maoism adapts Marxist theory to agrarian societies, focusing on rural peasants rather than industrial workers. While Marxism emphasizes urban proletariat in industrialized nations, Maoism centers on revolutionary potential of the agrarian population in developing countries.

Marxism, founded by Karl Marx and Friedrich Engels, is based on the concept of class struggle - the conflict between the bourgeoisie (owners of production) and proletariat (workers). The quote describes the core Marxist belief that this struggle would ultimately lead to a classless, stateless communist society.

Benito Mussolini was the founder of Italian Fascism, a far-right, authoritarian nationalist political ideology. He established the first Fascist regime in Italy in 1922, which later influenced similar movements in Europe. Nazism (option A) was a German variant led by Hitler.

India follows a mixed economy combining capitalist and socialist elements - private ownership and market forces coexist with state intervention and public sector enterprises for social welfare. This model was adopted after independence to balance growth with equity.

Theory of New Democracy was developed by Mao Zedong, not Karl Marx. Marx's core doctrines include Dialectical Materialism (the philosophy of change through contradiction), Historical Materialism (how economic base shapes society), and Class Struggle (engine of historical change). Mao's New Democracy theory was about the stages of revolution in colonial/semi-colonial countries.

Theory of New Democracy is associated with Mao Zedong, not Karl Marx. It was Mao's concept for the transition phase in China's revolution. Dialectical Materialism, Historical Materialism, and Class Struggle are all core doctrines of Marxism developed by Karl Marx. The question asks which is NOT a Marx doctrine.

Socialism fundamentally opposes unrestricted competition as it leads to exploitation and inequality. Socialism advocates for collective ownership, social security schemes, and equal distribution of wealth - all principles mentioned in the other options. The core opposition is to cut-throat competition which socialism views as harmful to social welfare.

Public sector refers to enterprises and organizations owned, controlled, and managed by the government in various sectors of the economy including commerce, trade, and industry. These organizations serve public interest and welfare rather than profit maximization.

An anarchist advocates for the abolition of hierarchical government and supports a stateless society. Option C correctly identifies someone who seeks to overturn the established government, which is the core definition of an anarchist.

The introductory phrase 'A leading figure...' must modify 'Adam Smith', not his books. The correct option fixes this dangling modifier by making 'Adam Smith' the subject of the main clause and uses the correct 'what' for the comparative analogy.

It is the other name for concept of conservatism.

According to Gandhi’s theory of trusteeship, the rich will be free to possess their wealth, but will use only that part of their wealth which is required to satisfy their needs and hold the rest in trust for the use of the society.

Centralization of capital in the hands of small number of people is the cause of all financial ills all over the world.