Value
Social labor as materialized in the form of commodities.
Value
A product of labor made for sale, rather than for direct use.
Commodity
The study and scientific understanding of human production and how the resulting goods are distributed throughout society.
Political Economy
A concept in dialectical materialism that describes the interaction and conflict between opposing forces or aspects within a single entity or situation that drive its development and change.
Contradiction
The characteristic(s) of an item that makes it useful or allows it to meet a need.
Use Value
A universal equivalent in a society that can be used to trade for commodities.
Money
The theory by Karl Marx that puts forth the idea that all value derives from labor.
Labor Theory of Value
The incorrect idea that things are not in a constant state of development and are only changed due to outside factors.
Metaphysics
The value of a commodity as it is bought or sold in the marketplace.
Exchange Value
The tendency for people within a commodity based society to give an outsized personal value towards commodities.
Commodity Fetishism
The Bourgeois economist theory that states that value is dictated by the amount of supply of and demand for any given commodity.
Supply-Demand Theory of Value
Any view of the world that postulates that one's own ideas are the driving force of reality.
Idealism
The value of commodities is created by what?
Labor
What are the five functions that money had developed in society.
To serve as (1) a unit of value, (2) a medium of exchange, (3) a standard of payments, (4) a store of value, and (5) a universal currency.
The physical implements that people use to produce goods.
The Means of Production
The fundamental contradiction of capitalism
The social nature of production and the private ownership of what is being produced.