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Unformatted text preview: nits: Use- Value value of a commodity to satisfy a human want; ex. An automobile has use value because it allows people to satisfy their need for transportation Exchange Value value of a commodity in the market place; ex. An automobile has an exchange value that takes the form of a price; it is affected by supply & demand in the capitalist A rare classic automobile from the 1930's low in supply An automobile produced todayhigh in supply 2.) Exploitation and the Mode of Production 1.) Slavery and Feudalism Slavery and feudalism exist due to the creation of surplus Slaves and serfs produce a great amount of material to their labour; only receive a small proportion of what they produce Masters and lords- the rest produced in surplus 2.) Capitalism Exploitation exists due to the creation of surplus value Surplus value refers to the difference between what it costs to produce a commodity and on the other hand in exchange value of that commodity; it is the source of profit for capitalists Surplus is created when workers take raw m...
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This document was uploaded on 03/14/2014 for the course SOCIOLOGY 2S06 at McMaster University.
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