According to Karl Marx, If Workers Produce $20 Worth of Goods

question 82

Multiple Choice

According to Karl Marx, if workers produce $20 worth of goods and are paid $13 in subsistence wages, then surplus value is:

• A) $7.
• B) $13.
• C) $20.
• D) $33.

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Definitions:

Cost Associated

Refers to the expenses linked to a particular action, activity, or decision.

All Decisions

The comprehensive range of choices or judgments made by individuals or organizations.

Zero Sum Fallacy

The incorrect belief that economic transactions are like a zero-sum game, where one party's gain is exactly matched by another's loss, ignoring the potential for mutual benefit.

Economic Pie

A metaphorical term referring to the total amount of wealth or resources available in an economy, which can be divided among individuals or groups.