In your comment, explain how you understand the means of production and labor. Give an example of each.

Means of production are the raw materials and tools you have in order to make something. Labor is the work put in to create the product.  An example of means of production is have materials to build a house, the wood the concreate and tools. Labor is what gets the house built. 

 what is value?  What give “value” to value, what makes something valuable? 

Value is what the product is worth, Labor gives value to what you have, the time spent on the labor is what makes something valuable.

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

Labor increases the value of what you own. Products are measured by how much labor it takes to produce, 

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

Labor power is the capacity or ability to work it is what increases value.  Labor is the physical part of 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 profit made from the products the worker produced and what the company keeps. It’s important to keep in mind when thinking of social classes because the worker will always be exploited and never paid to what the actual value of the product is worth. 

1-Means of production refers to the tools needed to make a product. Such as machinery and equipment in the process. An example of this can be an oven for a bakery. The equipment needed to bake cakes and other pastries for the business. Labor refers to the human effort and time placed into making a product. An example would be stirring batter in a bowl to make a cake. Then placing the pan of cake mix into an oven.

2-Value is the worth of something, usually in comparison to something else. The value of labor would logically make something more expensive if more effort was placed into it. That is not the case when talking about the video’s value. The value of the video could also mean quality of something because labor does not equate to value. Usually quality does, as something with better quality is considered more valuable. The 5.1 video breaks down value and how not all labor intensive products are seen as more or of higher value. Think about how much labor goes into farming for example and yet they pay workers so little for their labor.

3-Labor and value are connected by how products are seen to be of more or higher profit with done labor. Labor focuses on human effort placed into production. Value focuses on how much it costs or how much more worth it is in comparison to something else. They relate depending on what is being made or produced, how much effort are people putting into making it and does it cost more to make? Usually value relates to the pay off of the product made and compares it to the production of the item. There is little to no point in making something with little value if the labor is too high and the pay off is even less valuable than the cost to produce it.

4-Labor refers to the effort place into making or working towards something. Labor power refers to the potential amount of labor that will be needed in order to make a product. The way I understand this is through context clues. Usually power in this case could be the man power needed to produce something.

5-Surplus value refers to a difference between value of a product and the cost of producing it. The importance of knowing the cost difference is if you’re getting what you paid for. In the working class, you want to know if the money you put labor into making is really paying off. This includes wanting good products to consume. In the eyes of capitalists, the money you put into producing items must be less than the value of your products. That said, capitalists tend to mark up the value of their products to lower the difference of surplus value. An example would be electronics, cheaper parts to make an expensive product. The difference in surplus value would be less than making a higher quality product with less pay off.

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.
   
   Means of production are all the necessary items and ‘infrastructures’ in the production of a commodity. Labor is the amount of time that a person put in the making of the product. For example, if you buy a taco from a local food truck, the means of production might be the truck itself, the as used for stove to operate, the pans, the cooking instruments, the water and soap used to clean the dishes, the plastic plate/utensils, the napkins, the ingredients (of course) and so on. The labor on the other hand would be the time and effort that the cook has put into the making of the dish; chopping and dicing, frying, assembling, etc.
   
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? 
   
   Value is measured by how much labor it takes to produce a product under normal circumstances. The value is given to a product by the labor and time the was put into its making. What makes something valuable is the fact that the labor that was put into it has changed it into something else, worth more than it was before.
   
3. How are labor and value related? What’s the relationship/connection between the two?
   
   Labor is the time and effort that a person put into the making of a commodity/product. The value of a product increases as more labor is out into it. This indicates that there is a positive correlation between the two terms (meaning that as one increases the other increases as well).
   
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.
   
   Labor is the actual putting of time and effort into the making of something (product/commodity). Labor power is the potential of that labor to be put to work, the ability to labor. According to Marx it is the most important commodity in the world. It is the only commodity that increases the value of what you have when applied. It is found only in people. When going o work, you ‘lend out’ your labor power for the day. It needs to be sustained (by food, shelter, clothing, etc.).
   
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 that is being generated after the capitalist has already got back from you the labor that was put into you in order to sustain you labor power. Let’s assume that in order to sustain your labor power, 3 hours of labor are needed. You then labor for 3 hours, generating value. At the end of these 3 hours, the labor that was ‘invested’ in you and the labor that you produced are ‘even’ and you paid off the labor that was put into you. From that point onward, until your work-day is over, any additional labor that you produce would be the surplus value that goes directly to the capitalist and increase their gains. Of course you are getting paid for the labor, but the gains of the capitalist are higher than what he pays you, thus making profit. The surplus value of the product is the source of gains for the capitalist.
   

1.Means of Production refers to the physical, non-human resources used to produce goods and services, such as factories, machines, tools, and raw materials. For example, in a car manufacturing plant, the factory building, assembly lines, and robots are part of the means of production.

Labor is the human effort physical and mental used to produce goods and services. For example, the workers on the assembly line who operate machines, weld parts, and inspect cars before they leave the factory are providing labor.

2.Value in a Marxist sense is tied to the amount of socially necessary labor time required to produce a good or service. Something has value not just because it exists, but because labor has been put into creating it.

What gives value to something is the amount of labor that goes into making it, as well as the social demand for that item. For example, a handwoven rug has value because of the time and effort put into weaving it, but if no one wants to buy it, its market value might be low.

3.Labor creates value because products only become valuable when human labor is used to transform raw materials into something useful. The more labor in terms of time and effort put into making an object, the more value it has. However, due to market fluctuations, not all labor results in equal value.

4. Labor is the actual work performed physically making a product, providing a service, etc.

Labor Power is a worker’s ability to work, which they sell to an employer in exchange for wages.

For example, a factory worker is hired to work eight hours a day. The employer doesn’t just pay for the exact amount of labor done but rather for the worker’s labor power the potential to produce during those hours. The difference between what the worker is paid and the value they produce is key to understanding surplus value.

5.Surplus Value is the extra value created by workers but not paid to them in wages; it is kept by the capitalist as profit.

It’s important because it explains how capitalists accumulate wealth and how workers often receive less than the full value of their labor.

Example: If a worker in a shoe factory produces $200 worth of shoes in a day but is only paid $80 in wages, the remaining $120 is surplus value, which goes to the owner of the factory.

• 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.

The two major concepts that this video reveals to its audience are the means of production and labor. The former means everything that is directly or indirectly necessary for the production of goods-instruments, machines, equipment, factories, and land. The latter, by contrast, refers to the component of physical or mental work that renders materials into products. In the deli context, labor is represented by the work done by the employee’s eggs, combining smoothies, and preparing food the means of production include the stoves, knives, and toasters that perform the work of making final products.

The contribution of value to social classes is equally very salient. It is by time and effort that, according to Video 5.1, one perceives the value of something. Marx states that the labor done by someone in the process of manufacturing an article bestows value upon that article’s distinction between the blanket made by machine and that made by hand being this: because more time and skill went into making it, it is a more valuable item. Value comes from the time and effort that are invested in something, generally making it feel very special or unique.

Labor and value are quite close. Value is generated through labor. There could be no value accompanying an object if labor hadn’t been invested in its manufacture. The more effort and time required to produce a product, the more it is thought to be worth latter being a value reflection on the stated labor-in-value.

However, the distinction between labor and labor power is important. Labor is to be interpreted as actual physical or mental work done by the individual in the course of the provision of some product or service. Labor power, on the contrary, means the worker’s maximum capacity to perform this labor, that is, how much of his effort or ability he is willing to offer in exchange for some momentary benefit. So labor is about the potential to be worked, not the act of working itself.

Surplus value is called the difference between the remuneration received by workers and the value created by them. Workers generate a surplus in their labor remuneration for their employers, hence the class lines between them and those at the top. Surplus value is brought out in that a company can sell its product higher than the wage paid to the worker involved in the production process, realizing part of the profit from this consideration.

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.

Means of production can be divided into two things and that is instruments of labor and the subject of labor. However, the instruments of labor are the materials needed, factories and machinery which makes the products whereas, the subject of labor is basically the workers.

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 can be defined as the element that is common to all commodities is labor time required in production. Therefore, labor is what gives “value” to value. 

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

Labor and value are related; however, the connection between labor and value is that labor creates value in which the value of a commodity can be determined by the number of labor hours required. 

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 labor is the ability,skill and energy of workers to produce whereas, wages are the price of labor power.

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 arises from the exploitation of labor because laborers are not fully compensated for the amount of value they create therefore, they have to sell for a wage in order for them and their families to survive. It is important to know in our social classes because it helps us understand the cost, value and how profit works. For example, if someone makes a burger and sell it for $8 and getting paid $8 then the owner, made nothing off of that burger therefore, in order for the own to make a profit, they have to pay the worker less than what they will make in for that burger so they can earn a profit. 

The Meaning Of Production And Labor

Labor is the work that people undertake to create commodities and Services, whereas the means of production are the resources such as land, factories, equipment etc. that are employed to do so. For instance, in order to run machinery and put together goods, a factory meaning of production which needs manpower.

Meaning Of Value

Value is the worth of anything, as defined by how much people are prepared to pay for it or how much it provides to society. Scarcity, utility, and demand are frequently what determine the worth of an item. Gold, for example, is a major value because it is rare, long lasting and has numerous applications.

Labor Vs. Labor Power

Labor vs Labor Power describes the actual work being done, whereas labor power describes a worker’s capacity or ability to carry out job. while labor is the actual act of completing work, labor power is the potential of a work to perform work.

Surplus Value

Surplus value is defined as the difference between what workers are paid and the value they produce. It is relevant to the study of social classes because it explains how wealth is generated in capitalism system, which frequently benefit owners more then workers. For example, if a workers produces 400 in items in a day but is paid 200, and the 200 difference represents surplus value that the company receives.

1. The means of production refers to the resources, tools, and infrastructure used to create goods and services, such as a car factory with its building, machinery, and raw materials. Labor, on the other hand, refers to the human effort, skills, and time used in production, such as the workers employed at the car factory, including welders, assembly line workers, and engineers.
2. Value, according to the video, is determined by the amount of socially necessary labor time required to produce a commodity. Labor gives “value” to value. 
3. Labor and value are directly related. The relationship is that labor creates value. The amount of “socially necessary labor time” required to produce a commodity determines its value.
4. Labor is the actual work performed. It’s the process of transforming raw materials or existing goods into something new, using physical and mental effort. It’s the doing of the work. Labor power is the capacity or potential to do work. It’s the worker’s ability – their skills, knowledge, physical strength, and willingness – to perform labor. It’s something the worker possesses and can sell. This is something that the capitalist “purchases.” The key difference, therefore, is that one is the activity (labor) and the other is the potential for the activity (labor power).
5. Surplus value is the difference between the value of the product a worker produces and the wages the worker receives. it’s the profit (or a significant portion of the profit) that the capitalist makes from the worker’s labor. Surplus value is central to understanding class division because It helps us understand the unequal distribution of wealth in capitalist societies. For example, a fast food worker paid $15/hour makes and sells items that generate $30/hour in revenue. The worker generates $30 of value per hour, while only receiving $15 in wages. The $15 difference (surplus value) is profit for the restaurant owner.