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Question : According to Marx, the source of value is 

Option 1: Capital

Option 2: Land

Option 3: Labour 

Option 4: None of the above 


Team Careers360 15th Jan, 2024
Answer (1)
Team Careers360 17th Jan, 2024

Correct Answer: Labour


Solution : The correct option is Labour.

The worth of a good is defined by the quantity of socially necessary labour time needed to manufacture it, in accordance with Karl Marx's theory of labor value. In other words, a product's value is determined by the amount of labour used to produce it.  In a capitalist society, workers, according to Marx, sell their labour force to capitalists in exchange for a wage. Then, the capitalist owns the means of production and appropriates the excess value produced by the workers' labor. According to Marx, the capitalist's source of profit is this excess value.

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