1. Means of production are all the materials, artifacts and talent used to increase the value of something. On the other hand, Labor is the exclusive series of actions that can increase the value of something.
A construction worker uses shovels, cement, hammers, wood, paint (all means of production), to build (Labor) a house in a certain amount of time.
2. Value is the proportion of how much labor it takes to produce a something in normal circumstances. Value gets its own value from the need people sees in the labor of something to be valuable, hence, Labor itself is the only thing that can make something valuable or increase its value.
3. Value is the product of Labor, if labor is not implemented in a product its value stays the same, it doesn’t increase.
4. Labor is the process where the value of something increases, whereas Labor Power is the ability to labor, therefore is considered a commodity.
5. Is the value that the worker creates after the amount of labor power has been paid off, and this pure profit belongs exclusively to the capitalist. It is important because as we have been working with the definitions of owners and workers, the wealth of the capitalists is created pretty much based in the infinite amount of surplus value that amasses through the labor power of the workers, adding continuity to their life of no work and exploitation.
An artist creates a painting, its labor power is paid after its finished and he sells it to the capitalist to get tax deduction on that investment, later the artist dies, and then, the capitalist auctions the painting getting a huge amount of profit at the end, this one being the surplus.