Please illustrate with a drawing for the flip chart. Which parts of the selling price come from previously existing values? Which parts are new value, and where does this new value come from?ĭescribe the general law that determines the rise and fall of wages and profit in relation to each other. How is the selling price of the commodities produced by the worker divided? (36) How does inflation affect real wages? What is the relationship of relative wages to capital? Chapter 7 What is the growth of productive capital? Give an example.ĭefine and explain nominal wages, real wages, and relative wages. How are the interests of the capitalist and the worker the same? How are they not the same? Consequently, he has lost it for himself.” Think in terms of means of subsistence, accumulated labor, and the production of new values.Įxplain how wage labor and capital bring each other into existence. How are accumulated labor and living labor exchanged in order for capital to exist? Chapter 6Įxplain the following quote in context: “But it is just this noble reproductive power that the laborer surrenders to the capitalist in exchange for means of subsistence received. Why do workers receive the least possible return for their labor Chapter 5īased on Chapter 5, what is Marx’s definition of the social relations of production?Īccording to Marx, what does capital consist of? What distinguishes capital from other sums of accumulated labor? From other sums of exchange value? What does this have to do with the social relations of production?
Does Marx agree? If not, why not? Chapter 4 Why does capital migrate between sources of production?Ĭlassical economists say the average price of a commodity is equal to the cost of production. When the price of a commodity rises, what happens to its relationship to other commodities Which causes prices to rise, which to fall, and how? Chapter 3ĭescribe how competition among buyers, among sellers, and between buyers and sellers affects price. What is “the active expression of the laborer’s own life?” Why does Marx say that a laborer’s life begins after work?Įxplain the historical differences in the labor of slaves, serfs, and workers. Why does a worker sell her/his labor to the capitalists? What part do wages play in the production of commodities?
What are wages, according to Marx? Why does he call “wages” a “special name for the price of labor-power”? Look up some definitions (commodity, use value, exchange value…) What is the difference between labor and labor-power? How is their value different under capitalism? Chapter 2 How did classical political economy determine the value of commodities?
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