What is surplus value? Use the concepts of absolute surplus value and relative surplus value to...
What is surplus value? Use the concepts of absolute surplus value and relative surplus value to throw light on key moments in the evolution of the conditions, organization and technologies of production in capitalism.
Homework Answers
Surplus value refers to the amount of extra value of work that is retrieved out of the workers currently employed by exploitation, extra working hours, high production etc.
Absolute surplus value refers to the increase in the production or suplus value by increasing the working hours of the labour, reducing the breaks dueing work, reducing the discounts etc.
Relative surplus whereas is achieved where the labour is reduced and the production is increased by the available labour. Also the cost is reduced by the no. of labour forgone.
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