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 production I understand as: items needed in order to produce goods and services, such as machinery, tools, land, building as well as the labor or employees. Labor consists of the people that are responsible for the production. For instance, the operational processes that are required for a bank to offer service 24/7, machine, customer service, technical support, and security monitoring. A labor example is restaurants which have different position laborer such as waiters, bussers, chef, cleaning workers, etc.

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?

According to Video 5.1 value is the measure of the work you do. The more work you do the more you will fulfill your needs. In my opinion, something valuable is something that makes us complete at the moment. What I value highly today I might not value at all tomorrow but you might have something valuable today that could not compare with other values you thought you had. Everyone value things in different ways. Your assessment of the value of things depends on your needs.

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

In my opinion, labor creates values. Having a job you like provides a measure of personal need and satisfaction. As we work we create things that we value. Work value is viewed as a measure of employee performance. So work and value are related in all sorts of ways.

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 in the labor you have to work for a full shift and get paid less, the rest of the payment goes to the owner. Labor power is the ability to work through mental potentiality and get paid more than laborers.

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?

According to the video Marx, Part 1 Surplus Value is the value created by the unpaid wage against the employer. This is important to know because always in society has been those who work for benefit of others. An example of surplus-value would-be immigrants who comes from a poor country to work in a great country. Probably, many of us have started with a very small salary here in USA and didn’t say anything just because of other circumstances such as not speaking the language, not having the experience, etc.