Final answer:
The 'basic concept' of The Wizard of Oz entails more than defeating the Wicked Witch; it reflects late nineteenth-century American politics, with Baum's characters symbolizing farmers, workers, political leaders, and the Populist movement's challenges against the gold standard.
Step-by-step explanation:
While the basic concept of The Wizard of Oz in popular memory may revolve around a little girl's quest to defeat the Wicked Witch of the West, L. Frank Baum's original novel contains a deeper political allegory. Inspired by Coxey's Army and the Populist movement, Baum crafted characters to represent different aspects of American society and politics of the late nineteenth century. The Scarecrow symbolizes the farmers, the Tin Woodman stands for industrial workers, and the Cowardly Lion embodies political leaders, particularly William Jennings Bryan, who lacked representation for their constituents. Dorothy, with her silver slippers, represents the purity of the American people and the strength of Populism.
The yellow-brick road signifies the gold standard and the struggles faced when gold was the sole measure of economic value. The four characters journey together to overcome obstacles, including the Wicked Witch who personifies the eastern money interests. Reaching Oz, they discover the Wizard to be a mere man using smoke and mirrors, reflecting Baum's critique of the president and the government, which seemed powerful but was ultimately ineffective.
The populist themes Baum may have intended are largely overshadowed in the iconic film adaptation where Dorothy's silver slippers were changed to ruby red, and the story is more focused on the adventure and personal growth of the characters rather than the potential economic and political commentary.