Marx Defined Surplus Value as

question 21

Multiple Choice

Marx defined surplus value as

• A) difference between the number of workers and the number of products produced
• B) difference between what workers earn for their labor and the price or value of the goods they produce
• C) difference between the number of workers and the number of consumers in the same market
• D) the difference between what the workers earn across competing companies in the same market

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Definitions:

Law of Total Probability

A fundamental rule that provides a way to break down the probabilities of complex events into more manageable pieces.

Mutually Exclusive

Events that cannot occur at the same time, meaning the occurrence of one event makes it impossible for the other event to occur.

Exhaustive

Pertaining to a comprehensive or complete method or approach that leaves no aspect unexplored or unaddressed.

Independent Events

Two or more events where the occurrence or outcome of one event does not affect the occurrence or outcome of another.