What is abstract labor? Is it a substance? Is it inherent in individual use values? How...
What is abstract labor? Is it a substance? Is it inherent in individual use values? How should we understand abstract labor? What is the relationship between abstract labor and value? What is the relationship between abstract labor and exchange value?
Homework Answers
Abstract labor is defined naturally as An aspect of actual human labor which is categorically defined as financially valuable worktime. This kind of labor is not inherent in individualistic usage worth as various individuals have different schools of thought and ethical assisting principles. Abstract labor in nominal layperson terms is considered as an ability to develop a particular type of item and value forming activities in an economic sense which contributes to greater worths when labor productivity is made the most. The exchange value is the value of the good is proportional to other items upon exchange. The value of the exchange takes full advantage of when abstract labor is maximum as for example hand made gold is abstract labor and resells value or exchange worth is greater for it.
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