1. Means of Production: It is what efforts or labor put in to produce a good or service. For example, in a factory that produces home appliances there is equipment, tools, etc. Means of Production is what you need to produce a good or service. Labor is the most important factor and it’s what raises the value of a good. An example of Labor are the workers who are in the factory producing the appliances.

2. Value is what the worst is of a good or service. We can determine the value of a good based on its price. For example, we have been conditioned to associate a higher priced item with a higher value. If a pair of shoes has a higher price point then it must be of good value and quality.

3. Labor and value are related based on many things, but one that comes to mind is relationship between the amount of labor hours work by a person and what they are compensated. The value of the good or service is paid for at a higher rate than the rate of the labor of the person who produced the good or service.

4. I think labor is a workers physical efforts to produce a good or service, it’s the manual labor they apply anytime they are producing a good or service. Labor Power, on the other hand, is a workers ability to get the job done in order to produce the good or service. If you work for someone else and their company, you are giving up your labor power in exchange for a pay check. This is someone who has a 9 to 5, they clock in and clock out.

5. Surplus value is the value that is produced by workers over what they are compensated. In a capitalist society the worker is not compensated adequately based on the good or service that is being produced. If workers were compensated adequately then businesses and business owners may not make a profit.

1. Two key concepts in this video are the means of production and labor. In your comment, explain how you understand the means of production and labor. Give an example of each. 

I understand the means of production to be the resources and tools that make it possible for products and services to be created. An example of means of production can be the instruments of labor, such as tools or factories, and the subjects of labor, such as natural resources and raw materials. 

I understand labor to be the work people do to produce goods and services. An example of labor is work done by a waiter who serves food at a restaurant or a farmer who harvests the fruits and vegetables to be sold. 

2. Another important concept in understanding social class is value. Based on the ideas presented in Video 5.1, what is value? What gives “value” to value, what makes something valuable?  

Value is the amount of labor it takes to produce a product or service under normal circumstances. What gives “value” to value is the labor, quality, rarity, market appeal, and condition of the value.  

3. How are labor and value related? What’s the relationship/connection between the two?

Labor and value are related because the value of a good derives from the amount of labor necessary to produce it. The economic value of a good or service is determined by the total amount of socially necessary labor required to produce it.  

4. How do you understand the difference between labor and labor power? Hint: this is a key difference, give it your best shot based on what the video says about it, and your own ideas. We’ll clarify and develop it in our discussions and in my video comments.

The difference between labor and labor power is that labor is the physical act of working, while labor power is the capacity to do work.  

5. Surplus Value: what is it? Why is it important to know about this in our study of social classes? Think about an example of surplus value.

Surplus value is the overabundance of value produced by the labor of workers over the wages they are paid. It is important to know about surplus value in our study of social classes because it can be viewed as a social relation of productions or as a monetary value of labor, a way to balance power between social classes. An example of surplus value is extra products created while the laborer is working.  

1. The way i understand the means of production and labour is that labor makes the productions and gives it its value. The time it takes to build an iphone including the materials that are used to make it, under normal circumstances gives the phone its expensive value. Production is nothing without labour. If you don’t put time into making something your not producing any products therefore there is no value being put into anything that your doing.

2. What makes something valuable is the time it takes to make it.

3. Labor and value are related because of the labor theory of value. The amount of labour used to make a product makes its value. The connection between the two is that they go hand in hand. The more labor it takes to make the product the more its value increases. The less time it takes to make it, the lesser its value.

4. Labor is what increases the value of what you have. Labor power is when you get paid less then what your labour is actually worth.

5. Surplus value is when you make profit off of a product that is privately owned and made by laborers and the company keeps the profit. The surplus value goes to the company not the workers. I think this is important to know about in the study of social classes because it will show how different social classes go through different experiences when it comes to labor and values. One can argue that different social classes can have different ranges of labor power and also products being made in un normal circumstances due to social class. An example would be products that are made in china. A lot of our products are made in china in factories and many different companies profit off of them that we don’t even know about and its only what we see we can interpret. How can we be so sure that the labor being put in to make all these products are actually being paid fairly amongst the workers?

1. Two key concepts in this video are the means of production and labor. In your comment, explain how you understand the means of production and labor. Give an example of each.
As I understand it, the means of production are the tools required to create something new. An example of this would be a digital editing program that is used to transform raw camera footage into a finished video. This is an example of means of production because it allows a user to take their own item (raw camera footage) and transform it into something new. Labor is the act of taking something and transforming it into something else. An example of this would be the act of crocheting yarn into a blanket. The act of crocheting itself is labor that transforms yarn into a new form that has value, in this case a blanket.

2. Another important concept in understanding social class is value. Based on the ideas presented in Video 5.1, what is value? What gives “value” to value, what makes something valuable?
Value is the amount of worth something has. This is not the same as price, which is the amount charged for an item that may or may not be influenced by the value of the item. Labor time gives value to value, as the amount of labor put into something creates value.

3. How are labor and value related? What’s the relationship/connection between the two?
The relationship between value and labor is that the amount of labor put into a product under normal circumstances increases the value of the finished product. The value of a product can be measured in labor time.

4. How do you understand the difference between labor and labor power? Hint: this is a key difference, give it your best shot based on what the video says about it, and your own ideas. We’ll clarify and develop it in our discussions, and in my video comments.
Labor is the act of taking something and transforming it into a product, while labor power is how much a person is able to do that labor. This means that labor power is a measure of how much labor a person can complete, while labor itself is an act that a person does.

5. Surplus Value: what is it? Why is it important to know about, in our study of social classes? Think about an example of surplus value?
Surplus value is the excess value generated after a person’s labor produces enough to maintain a day’s worth of work. Usually, this is in the form of profits that go directly to the capitalist who has hired the laborer, either directly or through selling the excess products that the worker has produced. It is important to know about because it is why capitalists are inherently exploiting the working class, as they do not pay the working class equal to what they produce, otherwise, they would not continue to profit. An example of surplus value would be that a factory worker could have their needs met after working 6 hours out of an 8 hour work day, so the final two hours are labor that create extra production for the capitalist. Because it is surplus, it goes to the capitalist directly and is able to be turned into profit for them.

1. To me, production and labor are the two factors that set a product’s value. Labor being the time or effort that it takes to produce some goods, and production, which is the whole process itself. Example: a person who works a 8 hour shift everyday in exchange for a payment. 

2. Value is what gives a product a final price. What gives “value” to value is the amount of labor that takes to make that product. As the video explained, the more labor is put into something’s production, the more valuable it is going to be the product. 

3. Labor and value are linked because labor is the amount of time that people’s works to get a product done. In that case the value of that product is going to be determined by how much work/labor it took to get it done. 

Labor and labor power are different because labor itself is just the process by which a person works. On the other hand, power labor is the ability that someone has  to put themselves to work.

4. Surplus value is the process  by which you have to work more than the hours that you need to do per day to complete your shift. Its like an extra value or an extra work that you have to do in order to complete your shift even thigh, you just need a few hours to complete the amount of money that you actually needed. Surplus value is important to our study because it helps us to determine how classes are developed according to this concept.

1. Means of production refers to the all the other stuff that goes into the production of something. These include things such as tools, natural resources, and a system that helps with how they will distribute or sell the product and they could do this through stores or even the internet. Let use a pizzeria for example the tools they use are the dough mixers, digital scales, pizza cutters and the brick ovens. The natural resources they use could be the tomatoes, water, peppers, anchovies etc. Then the way they distribute or sell the product is through their restaurant. Labor refers to the actual human employee doing the work such as getting the dough ready, preparing the pizza, tending to customers, etc.
2. Value is how much something is worth. A products value is measured by how much labor it takes to make something under normal circumstances. What makes something valuable is how much time and effort went into the making of a product.
3. Labor and value are related because the more labor a product needs the more valuable it will be.
4. Labor is how all wealth is created under any mode of production. It’s humans interacting with nature in order to create the wealth of society which is pretty much all the material stuff we see around us. Labour power is when labor is turned into a commodity. It’s when workers are forced to sell their own labor for a wage in order to survive.
5. Surplus value is the additional value created by workers beyond what they are paid for. It is important to know about in our studies of social class because this explains to us how the wealthy are able to stay wealthy and why the poor tend to stay poor. An example I could give of surplus value is me for example I go into work at 8am and I am pretty much done with my work by 12pm but I am not allowed to leave until 5pm, so then I am told to help a coworker with their job, and I am not getting paid extra for doing the extra work.

1. Two key concepts in this video are the means of production and labor. In your comment, explain how you understand the means of production and labor. Give an example of each.

The means of production & labor are very important when making things. It is very important in making factories, tools, machines, etc. An example would be making a pizza. The means of production that go into making a pizza are dough, flour, cheese, sauce, & an oven. Labor is an individual who is doing the work. This can include various types of work, heavy lifting, office filing, cooking, & much more. An example of labor in relation to pizza would be rolling out the dough, shredding the cheese, & putting the pizza into the oven to bake.

1. Another important concept in understanding social class is value. Based on the ideas presented in Video 5.1, what is value?  What give “value” to value, what makes something valuable? 

Value is based on the importance on someone or something based on how much it can benefit you. Essentially, the “value” that is given to value is varied on hard work & how much it can contribute to society.

1. How are labor and value related? What’s the relationship/connection between the two?

Labor & value have a correlated relationship between the two. In simpler terms, when someone works really hard on a painting, it is highly likely for it to look & be valued much more than a painting that was done in a few minutes. The relationship is the more labor put into something, the more value it tends to hold.

1. How do you understand the difference between labor and labor power? Hint:this is a key difference, give it your best shot based on what the video says about it, and your own ideas. We’ll clarify and develop it in our discussions, and in my video comments.

The difference between labor & labor power would be the person’s ability to work at all. For example, if a restaurant were to fire the head manager, they would be loosing labor power as they have no one in charge of the restaurant.

1. Surplus Value: what is it? Why is it important to know about, in our study of social classes? Think about an example of surplus value?

Surplus value is a profit made by the labor of the workers but pocketed by the owner. An example of this would be a business paying workers to make a bunch of product, like a brush, & then selling it & earning more money than what they paid they workers to make it. It is important to know about because it puts into perspective how businesses are set up to keep someone in the working class, in the working class, while high income owners, like a successful business owner, keep getting richer.

1. Two key concepts in this video are the means of production and labor. In your comment, explain how you understand the means of production and labor. Give an example of each. From the video, the way labor is understood is what makes a product valuable and is the only thing that can increase the value of what someone, a company or business, or yourself are producing. One example of labor is when going through training or schooling to learn to create something, it can increase the value of production. Means of production on the other hand, are privately owned elements needed to produce. An example is products that are sold in a market.
2. Another important concept in understanding social class is value. Based on the ideas presented in Video 5.1, what is value?  What give “value” to value, what makes something valuable?  Value is said to be by Marx, how much labour it takes to produce under normal circumstances. It also gives the “right price” to a product. What gives value to value, is measuring how much labour it took to produce something. Value created the saying “time is money”.
3. How are labor and value related? What’s the relationship/connection between the two? The relationship/connections between labor and value is that labor allows to put a price on something to make it valuable. For example, if someone buys a house and reconstructs, it adds more value and can now be sold for more.
4. How do you understand the difference between labor and labor power? Hint: this is a key difference, give it your best shot based on what the video says about it, and your own ideas. We’ll clarify and develop it in our discussions, and in my video comments. As Marx believed, Labor is value. Essentially meaning that you will be paid for the amount of labor put into your own product making it valuable. Labor power on the other hand is the capacity to do the work and not fully being valued by the actual labor that was put in. As stated by Professor Arto Artinian to better understand, “Capitalist want from the non-wealthy their labor power but not their ability to work.”
5. Surplus Value: what is it? Why is it important to know about in our study of social classes? Think about an example of surplus value? Surplus value is the extra value on top of the value that was already produced and what capitalist would call profit. This is important to understand because it allows us to break down capitalism and class conflict in social classes. An example of surplus value is working a 9-5 but only being paid what you need to “survive”. The rest of your labor would belong to your boss or company.

1.How I understand the protections of labor is things are produced to labor and capitalist make profit off the labor of others production is the effort put into producing the products

Labor is a source of value of the band of this apply makes a valuable in the cost of production. A product value is measured by how much labor it takes to produce under normal circumstances. The difference between labor and power is labor is the physical effort and power is the capacity.

surplus value is the value on top of the value it took to get you there when you make something it goes to your boss, and they make profit increasing their value

1. Two key concepts in this video are the means of production and labor. In your comment, explain how you understand the means of production and labor. Give an example of each.

Means of production are like the tools and stuff needed to make things, like machines and land. For example, in a bakery, the oven, mixing machines, and ingredients are all means of production. Labor is the work people do using these tools to make stuff, like baking the bread or mixing the dough.

2.Another important concept in understanding social class is value. Based on the ideas presented in Video 5.1, what is value? What give “value” to value, what makes something valuable?

Value is basically how much something is worth, like how important or useful it is to people. In the video, they say it’s mostly about how much work goes into making something. So, the more work it takes, the more valuable it is.

Value is basically how much something is worth, like how important or useful it is to people. In the video, they say it’s mostly about how much work goes into making something. So, the more work it takes, the more valuable it is.

3.How are labor and value related? What’s the relationship/connection between the two?

Labor and value are like best friends because labor makes things valuable. If you spend a lot of time or effort making something, it becomes more valuable. So, when people work hard on something, it becomes worth more to others.

4.How do you understand the difference between labor and labor power? Hint: this is a key difference, give it your best shot based on what the video says about it, and your own ideas. We’ll clarify and develop it in our discussions, and in my video comments.

Labor is the actual work you do, like painting a house or fixing a car. Labor power is more like your ability to do work. So, if you’re really good at painting, that’s your labor power, but when you’re actually painting, that’s your labor.

5.Surplus Value: what is it? Why is it important to know about, in our study of social classes? Think about an example of surplus value?

Surplus value is like when you do a job and your boss pays you less than the value of the work you did. So, if you make a cake that sells for $20 but you only get paid $10, the extra $10 is surplus value. It’s important to know about because it helps us understand how some people make money from other people’s hard work.