Which of the following are features of Marx’s theory of surplus val ue ? (a) It is an extension of…
Marx develops the labour-value tradition and distinguishes labour-power capacity from value created. Commodity value depends on socially necessary labour; wages do not…
Choose your answer
Which of the following are features of Marx’s theory of surplus val ue ?
(a) It is an extension of Ricardo’s theory.
(b) Labour power equals the brain, muscle and nerve of the labourer.
(c) The value of every commodity is not proportional to the quantity or labour contained in it.
(d) The worker must be paid a price proportional to the number of Labour ho urs that entered into its production.
Answer and explanation
Correct answer A
Marx develops the labour-value tradition and distinguishes labour-power capacity from value created. Commodity value depends on socially necessary labour; wages do not necessarily equal all labour value produced, which would remove surplus extraction. Thus a and b.
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UGC NET Political Science