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.

Based on my understanding of the video the means of production is the materials that is need such as wood. Labor is the work/time that is needed to make something. So taking the wood and laboring it to create a chair or a desk.

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? 

based on the video time that is given to labor something under normal circumstances is what makes something valuable. This also includes the training a laborer might need to endure. For example a hand made chair will cost more than a chair that was manufacture buy machines. hand making of objects is much more time consuming than using machines.

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

Well when it comes to labor and value the connection between the two is an objects value is based on the laboring time it takes to make an object under normal circumstances.

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.

From my understanding of labor and labor power is labor is the actual action of working and labor power is the necessities you need to do the labor such as food, clothing and shelter.

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?

based on what the video explained surplus value is the profit that is made freely off of a person. So how I understood what was being stated in the video is a worker has to work for a day. Let’s say 9-5 a person works. The owner only pays the worker for 4 hours which is the amount of hours to cover food, shelter and clothing. After that from 1p – 5p you are basically working for free but the owners are still gaining profit off of the work you put in from 1-5. This is important for us to know because this is how we live. This shows the difference between the employee/working class and the owning/wealthy class.

1. Means of Production Vs Labor:

Means of production are the materials and training needed in order for a product to be produced. Once a product is created it can be sold in the market for profit. Means of production are privately owned. This guarantees that 100% of the profit from labor is to be given to the owner and not to the employees. -If they had to bring their own tools or own part of those means, the profit would have to be split. Labor increases the value of what you have. Product value is only measured by the amount of labor needed to produce the product. Labor is the physical work one must do in order to complete a task. Means of Production and Labor go hand in hand in producing a product. Means of production warrant the presence of labor and the production of a product. Labor assures the production of a product but needs the means of production to do so.

2. What is value? What gives “value” to value? What makes something valuable?

Value is how a product is produced under normal circumstances. If your product takes one hour to be produced and you produce it in an hour its value remains the same. If you take two hours to produce a product that only takes one hour, the value of your labor decreases. Value also decreases if the product needs minimal means of production, labor, and training. The cost of production, labor, and position in the market determines the value of a product.

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

Labor and value are strictly co-dependent in a capitalist society. Though labor contributes to the value of a product, the profit of the product’s value is used to pay for the means of production and labor. These two are what helped create, contribute and further the capitalist system. Labor is a means to determine the value of a product and value as a means to pay for that labor.

4. Difference between labor and labor power:

Labor is the physical work you produce in order to create a product or contributes to the means of a company. However, work can not only be done through people many machines and factories are run by robots only and that is how a product is produced. Labor power is only found in people. Labor power increases the value of what you have. People sell their labor for money. Though robots exist people had to create, build, program, and sometimes even operate them. A company that produces paper needs people to cut down the tree, a well-functioning machine to create pulp, and so on. All of this contributes to the value but it is only through labor power that any of it even gets done.

5. What is surplus value? Why is it important to know when studying social classes? What is an example of surplus value?

Surplus value is the profit made from sales of a product that does not include expenses from labor and means of production. Surplus demonstrates the exploitation of not just the capitalist system but the upper class vs the lower class. In an earlier reading “Wealth and Want in the United States” it was said that “the average private-sector employee works two hours for herself or himself and six or more hours for the boss.” One is always paid less than the product of their labor.

• Example:

A factory worker works for 8 hours a day and is capable of making 100 vases every two hours. In total, they can create 400 vases during one shift at work. This factory worker only earns 20$ an hour, in total making 160$ per day. Now if each of those vases they create is sold for 100$ each, the value of his labor is 250% more than they earn.

1. In my own words, the means of production are otherwise known as they key components that make up a single product. For example, if I were to boil 2 eggs, I would need a pot and some boiling water to then produce a boiled egg. On the other hand, Labor is simply the measurement of time along with manpower or service needed to push production. One example would be a pilot flying a plane. A plane is unable to fly on its own so in order for an airport to remain in service, it must have pilots to keep means of production.
2. Based on video 5.1, value is the amount of labour anything is needed to be produced under normal circumstances. This is what gives value its “value”. Therefore, what makes something more valuable than something else is through the difference in measurement of labor.
3. Labor and value are in direct correlation with each other. This is due to the fact that value is determined by the amount of labor that is being utilized. Something will be low in value if there isn’t too much labor being utilized and if it his high in value there will be a high amount of labor being utilized.
4. The difference between labor and labor power is that labor power is that labor power is defined by what it takes to produce the overall action of labor. For example in order to produce labor, one must be able to have food, clothes, and a shelter.
5. Surplus value is the excess value that workers create that is worth more than their own wages. This excess value is profit for the capitalist in charge. It is in important to know about in the study of social classes because it serves as a gateway of exploitation of workers.

1.) In video 5.1 “Labor & Class Conflict,” it discusses two key concepts: means of production and labor. Although they each have their own respective definition, they reconcile with each other quite well because it refers to social class; specifically the working class. For starters, “means of production” are particular things that are necessary in order to produce a product(s). Usually the driving force behind this are human beings, regardless if they were to use something like machinery to speed up the process. On the other hand, “labor” is “the only thing that can increase the value for what you have,” according to Marx. In other words, it is the time that someone takes in order to produce a product. Basically, the more time that someone takes on creating a product-the more valuable it’ll be. The saying “time is money,” is correct because labor is “measured in time, hours, and minutes.” Usually products are “man-made” and since a person puts an immense amount of effort during the time that they are working to produce something, their efforts are “rewarded” in a way. The price tag that will follow the item will represent the amount of labor they’ve done.

-An example of “means of production”: In video 5.1: Labor & Class, he talks about how his Youtube video plays into this concept. Producing a video of his standard is no simple means because he shows various equipment that is used to ensure the production can be done. For example, a camera so he can have his face present in the video, a microphone to record his voice, a tripod for lighting, a backboard, editing software, and of course himself. Not only are these all factors in creating a video such as this one, but also considering it is the “means” that goes behind something to be created.

-An example of “labor”: In video 5.1: Labor & Class, he gives the example of a block of wood. A block of wood is nothing, it does not have any value as of yet because wood can be obtained anywhere and it is not made into anything. But when you add “labor” into the mix, that block of wood can obtain value because someone will put time and effort into making it valuable; like a chair. A chair requires an immense amount of time to make and is a product that will make money so it will be priced based on the amount of time it took and possibly the kind of wood that is used.

2.) Based on video 5.1: Labor & Class Conflict, “value” is considered to be how much something is worth. What makes something “valuable” is the time and effort that is put into creating the desired product.

3.) “Labor” and “value” are two concepts that were presented within the video in regards to the production of a product. To understand the relationship between the two, we must first come to define each of them respectively. Labor is considered to be time that someone takes in order to produce a product. On the other hand, value is how much a product is worth or will be sold for consumers to buy. Now, value is actually measured in a particular way that is connected to the amount of labor that is produced by someone. For example, according to the video it stated, “A product’s value is measured by how much labour it takes to produce under normal circumstances.” This quote from the video is an accurate definition of how these two concepts are connected. So, if a product were to be mass produced by machinery rather than a human, the machinery can produce the product in lesser time and provide more quantity. Whereas the human will take more time and provide less but with more effort compared to the machine. Thus, the value of the product will be different based on how it is produced. Not to mention, the skill that an individual has to gain in order to produce that product should be considered as well.

4.) From my understanding, there is a difference between the two concepts; “labor” and “labor power.” Labor power is supposedly the “ability to labor,” it increases the value of what you have and is apparently only found within people. Having the ability to work or labor power, requires that you are sustained by having the necessary food, clothing, and shelter so you can make it throughout each individual work day. So, considering that labor is something that human beings have always done in order to produce goods and provide services or simply-the physical act of working. Whilst labor power seems to be one’s capacity to work and how they are able to sell their efforts to the employer so they can support themselves through the pay that they obtain.

5.) “Surplus Value” is the distinction between the amount of money obtained through the sale of a product and the price it costed the owner of that destined product to manufacture such. It is an important concept in understanding our study of social classes because Marx made an important point in regards to capitalism. The goods and services that are provided from an individual for the company that they work for are in the best interests of the company or business that they work for. Despite the fact that the worker is paid, Marx mentioned capitalism; you are always being paid less than what your labor is actually worth. For example, according to the video it states, “That’s how capitalism works, you hire other people to increase the value of what you have and then you keep that extra value for yourself.” (Timestamp: 5:43- 5:50) This basically means that you continue to make the “rich” richer while you remain to be on the side of the working class spectrum or worst. People who own business or corporations that are worth significant value will want to ensure that they keep making money and that it grows, employees are that driving factor and will continue to have people regardless because there is always someone who needs a job to make money. An example that I can think of for surplus value is a person who works for a retail store. In a single day, they make a day’s work that consists of 8 hours and while the pay seems good to the person, it doesn’t actually represent the amount of labor that they did within that day.

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.
   1. I understand the means of production to be the resources that we use to create and produce goods and services, and those goods are sold to make a profit for business or corporations. Labor increases the value of the goods that are produced. In the video he states that labor “is measured in time, hours, and minutes”, the more time and labor it takes to make something the more valuable it is. When using automatic equipment to create some the value decreases because it would take less time to create the product. An example of means of production and labor is high fashion clothing brands that use physical labor that might take hours to make, package the products, and sell them at very high prices. And those who are needed for this type of labor might go to school for fashion design technology school which can take two to four years of training, for some it’s a talent they was passed down from generations.
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? 
   1. Value is the amount of labor that it takes to produce products and the value doesn’t decrease in the time that it takes to produce the product. How much time it takes to produce a certain product under normal circumstances is what gives “value” value.
3. How are labor and value related? What’s the relationship/connection between the two?
   1. Labor and value are related in that the amount of time and training put into producing goods the more valuable that product is. The connection between the two is that labor is the source of value and the value of goods is the amount of labor that it takes to make those goods.
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.
   1. The difference between labor and labor power is, labor power exposes the amount of value not only in the individual conducting the labor but the materials included and the amount of time fully included in doing that work. Labor power is what works sells in exchange for a wage and gives worker more power in who they sell their labor power to. Labor is the work that is being done by humans to produce goods in which a society is contingent on.
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?
   1. The surplus value in its chore essence is just the amount of profit a company makes off of your labor, workers provide value through labor and goods produced. It’s important to know surplus value in social classes because capitalist use exploitation and appropriate to get more labor and under value their workers. Capitalist make more economic profits and the exchange of work and time put into producing goods doesn’t equal the wages that is received. The worker sells their labor power for a wage to be able to buy other goods that is produced as a means of necessity. So the worker is not making a profit but the capitalist is.

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 video helped me get a good understanding of the means of production and labor. Means of production are basically the things that are used in order to create and make something. In order to create a product, you need tools and objects to help you make it.  The video used a good example, if you’re creating a video the things that would help you make it would be a camera, nice lighting or lamp, and yourself order to make it. Labor is the only thing that can increase the value of what you have. An example would be a plain shirt you’re selling if it’s plain and boring people won’t want to pay much for it because it’s something simple that doesn’t have much value. But if you put in time and labor and add designs with a sewing machine or customize it then the value would increase and it would cost more since labor and time were put into it.
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 what something is worth due to the amount of time and labor put into it. A product’s value is measured by how much labor it takes to produce under normal circumstances. A product that was handmade and took more time is more likely to be more expensive due to everything it took to create it. While a product that took less time since it was made by fast machines would be worth less since it took less time and labor.
3. How are labor and value related? What’s the relationship/connection between the two? The connection between labor and value is that labor is the work that’s being done and put into something and this helps determine the value of a product. A value of a product is determined by the amount of labor that was put into it. The value is how much it is worth.
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 is that labor is the work that you do to produce while according to Marxist economics the ability to labor is the most important commodity in the world. It is the only commodity that when applied increases the value of what you have. The video gives a lot of examples such as mentioning when you go to work you rent out your labor power for the day the video also states that the amount of work you put in for the day is the same amount that you have to take out for the day. In order to get through the day, you need food , shelter , clothing etc. In other words you receive less than what you make.
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 value on top of the value it took to get you there, profit essentially. Marx believed you are always being paid less than what your labor is actually worth this is because the boss keeps the profit of all that hard work you did by selling it for more. 

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

A product that, with the application of labor, may be utilized to produce a good that will result in profit for the owner is referred to as a means of production. An example of that would be planting , we would plant flowers to then sell for a higher cost than it cost to make. To add on, labor is defined as an activity that can raise the worth of our assets. An example of that would be factory workers.

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? 

The amount of time and money required to produce a thing under natural conditions is how value is measured. Something grows more valuable the longer it takes to manufacture it. Time is literally money so the more time spent in construction of the product, it makes the product more valuable.

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

Value and labor are closely related concepts. Value determines how much labor is “worth.” The higher the value something has, the more work and time we invest into it. It’s in a way a two step concept, you need the two to properly function within an organization. Time is money.

How do you understand the difference between labor and labor power? 

Only individuals have labor power; maintaining an economy requires a certain quantity of other goods. Labor power is the worth of the work that an employee advertises for another employee, whereas labor is the time and effort put in by an individual to generate a good.

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 can also be referred to as “financial gain.” It is a value that is still present after all associated production and maintenance costs have been subtracted. In terms of making profits, workers are always paid less than their labor is worth. An example of surplus value would be the law of ‘supply and demand’

1. If I would explain the means of production, I would explain it as to create or produce a product that will benefit the person who is producing. Productions are made, for example, the video that the narrator in the video created is considered a product because he created the video. Labor is the only that can increase the value of what an individual has. For example, if an individual buys a book and does nothing with it, its value will remain constant. But if individual labor to carve that wood into a chair, then the individual will increase its value.

2. Based on the ideas presented in video 5.1, value is the worth of a product. The speaker in the video talked about how when an individual buys a block of wood and does not do anything with it, its value will not change and will stay constant. Until the individual carves the wood to make a chair for example, then its value (worth) will increase because the individual took their time and effort into making the wooden chair. 

3. Labor and value are both related because when an individual spends a longer amount of time producing a product, then its value will increase. Hence, that is why artists sell their paintings for an expensive amount of money because they put all their effort and time into making the paintings. Labor is when humans work and value is the worth of the goods that the humans are creating. 

4. Labor is defined as when humans work to produce goods that they can sell. Labor power when applied increases the value of what the individual has. Labor power is found only in individuals, and when they work, they rent out their labor power for the day. So, labor and labor power are different because labor requires the amount of time the individual takes, unlike labor power, where the work is getting sold.

5. Surplus value is the excess of value that is produced by the labor of workers over the wages they are paid. To clarify, surplus value is the difference between the amount raised through a sale of a product and the amount the boss of the workplace will make the product cost. It is important that we know about the surplus value in our study of social classes so that we know that the workers and the boss are not getting an equal amount of money. The boss is mainly in the higher class and the worker is in the much lower class.

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 is all what is required to make a product such as raw material, the expertise, substances used in the primary production or manufacturing of goods, the equipment and the entity that will provide their brand name help with distribution. All the means or product are privately owned by the wealthy class but not by the working class or labor class. While the labor is the thing that increase the value of what the finished product is. In other words the labor is how much time it was required or how much time it took an individual to make that the product.

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? 

Valuable means what worth a lot of money. Sometimes something that is priceless, very important. The amount of labor used to make product can determine its value. If it needed specialized or trained person to make a product, it will make it more expensive or more valuable. The person that spend the time and energy to make a product should be best situated to give value to the valuable product.

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

Like Adam Smith said “Labor is alone the real standard by which the value of all commodities can at all times and places be estimated and compared”. I think both the product and the person that produce labor has a monetary value. The labor class sells their service for money in terms of wages or salaries. And the product is sold in a market for money in return which we call profit, which make it valuable. The more labor it takes to make a product, the more value it will have and vice versa. There’s is no valuable product without the labor that work on that initial material or initial product.

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.

Labor is what the working class use to make production of goods. It is the physical act of working. On the other hand, Labor power is only found in human. It is a person’s capacity to work and to sell their labor power to employers in exchange for money.

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?

Value on top of the amount of value it takes for labor. Surplus value is somehow the profit. It is important to know about in our study of social classes because the surplus value go to the owning class. Working class uses the labor power and labor to produce goods and services. Besides they are exchanging these abilities for money, they are not fairly compensated or getting paid when considering the huge profit made out of goods or product selling. It is somehow, an exploitation of the working class.