1. An example of labor and production is the ice tea and how it’s sold. The production in this situation  is the ice tea and the products that you need. You would need powder, sugar, lemons, straws, cups and a table to have everything on. The production in this example is much ice tea with a lemon and a straw. 
  2. Value is the time put into making a product or the labor that comes from this product. If you make a bunch of an item and it’s not selling you will be stuck with a constant value. With the idea of selling Ice Tea if you make a bunch of cups of Ice Tea and it’s not selling then this causes it to have a constant value. 
  3. Means for product and the product and labor (time) equal value for the return.
  4.  An example of this, Students pay money to receive an education from teachers. Students have to purchase books online, computers, and a router for wifi. They’re also required to have a school email to attend classes. How much students are spending is the investment that they are putting into themselves. Another form of investment is how long we study and put effort into the assignments given to us. By attending classes and applying what we learned is the value of labor power. This is also the drive needed to continue class in order to graduate with a degree. 
  5. Surplus valve is an investment, an example of this is Bitcoin. People buy into a product and now when they have an investment by putting a value increase. When you choose to sell this investment you receive a profit for this with taxes benign withdrawal as well. Due to the government wanting 10% of the earnings you have received from you selling a part of your investment. 
    1. It is important to know about surplus value because it explains how much you are dependent on your work (worth). It also shows us how much you are getting for your work (labor) and what the amount investors get paid for your work.

One thought on “Taikiem Jennings- Social Class”

  1. Hi Taikiem, on the question of surplus value, be careful: surplus value has to do with what percentage of the value created by a worker, for which he/she is not paid…. this is worth reviewing as it is a key idea for this module…

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