The means of production are the things people use to make products, like machines, tools, buildings, and land. For example a restaurant’s kitchen and cooking equipment are means of production. Labor is the work people do to make a product or provide a service. For example, a cook’s work in a restaurant is labor. Value means how much something is worth. Something can have value because people spend time and effort making it. Labor and value are connected because workers help create value through their work.
Labor is the actual work a person does. Labor power is a person’s ability to work. For example a person’s ability to work at a store is their labor power while the work they actually do at the store is their labor.
Surplus value is the extra value created by workers that is not given back to them as wages. For example a worker may help a business make more money than the amount the worker receives in pay. Surplus value is important because it helps us understand the relationship between workers and business owners.
Hi Maria!
I agree with your explanation of the difference between labor and labor power. Your example of someone working at a store makes the distinction really easy to understand. I also think your point about surplus value is important because workers can create more value for a business than what they receive in wages. It shows how labor, value, and the relationship between workers and business owners are all connected.