The Price of a Good, According to Marx, Equaled the Sum

question 107

Multiple Choice

The price of a good, according to Marx, equaled the sum of _______ and the _______ resulting from production of the good.

• A) capital costs; profits
• B) a return to labor; surplus value
• C) prices of factors; surplus value
• D) intermediate prices; costs

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Definitions:

Securities and Exchange Commission

A U.S. federal agency responsible for enforcing the federal securities laws and regulating the securities industry, stock and options exchanges.

Bookkeeping

A part of the accounting process that involves only the recording of economic events.

Accounting Process

The systematic series of steps taken to record financial transactions and prepare financial statements in accordance with accounting standards.

Working Knowledge

A practical understanding or awareness of a subject or skill, sufficient to perform tasks or make decisions related to it.