• 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 are the tools, equipment, and resources needed to create products, while labor is the work people do to make those products. For example, at a coffee shop, the workers who brew coffee shop, the workers who brew coffee and make the drinks are providing labor. The coffee machines, blenders, and cups that are used are the means of production because they are the tools needed to help create the product.

• 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? 
• Value is the worth of something, which is measured by the time and effort put into making it. According to the video, what makes something valuable is how much Labor is taken to produce under normal circumstances. For example, someone who makes a homemade cake might be more valuable than if you bought one at a store one because someone spent time and care to make it from scratch.

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

Labor and value are connected because the work people do (Labor) adds worth to the product or services. The more effort and time put into making something, the more valuable it becomes. For example, a home-cooked meal is more valuable than fast food because it takes time and care to prepare it.

• 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 the actual work someone does, like serving customers at a restaurant. Labor Power is the ability to work, like having certain skills and energy needed to do the work.

• 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 extra money a business makes from a worker’s effort. It’s important because it shows how workers get paid less than the value they create. For example, A worker makes $100 worth of products but only gets paid $40, the $60 left over is surplus value given to the boss or company.