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In some interpretations of the Marxian transformation problem, total "(production) prices" for output must equal total "values" by definition, and total profits must by definition equal total surplus value. However, Marx himself explicitly denied in chapter 49 of the third volume of Das Kapital that such an exact mathematical identity actually ...
Chemical engineers design, construct, and operate process plants, such as these fractionating columns.. Chemical engineering is an engineering field which deals with the study of the operation and design of chemical plants as well as methods of improving production.
Also acid ionization constant or acidity constant. A quantitative measure of the strength of an acid in solution expressed as an equilibrium constant for a chemical dissociation reaction in the context of acid-base reactions. It is often given as its base-10 cologarithm, p K a. acid–base extraction A chemical reaction in which chemical species are separated from other acids and bases. acid ...
In economics, the cost-of-production theory of value is the theory that the price of an object or condition is determined by the sum of the cost of the resources that went into making it. The cost can comprise any of the factors of production (including labor, capital, or land) and taxation .
Surplus value indicates that the output has more value than the sacrifice made for it, in other words, the output value is higher than the value (production costs) of the used inputs. If the surplus value is positive, the owner's profit expectation has been surpassed. The table presents a surplus value calculation.
The difficulty that the anti-Engels critics have, is that they cannot credibly explain what regulates commodity-trade in the pre-capitalist economy, in the supposed absence of the law of value, and how the law of value then "suddenly" appears out of nowhere, once most of production becomes commodity production, via expanding markets. The only ...
Trump administration officials have smeared the agency’s spending as unnecessary, wasteful, politically motivated and in conflict with the president’s foreign policy and ideological agenda.
Marx concludes that as value is determined by labour, and as profit is the appropriated surplus value remaining after paying wages, that the maximum profit is set by the minimum wage necessary to sustain labour, but is in turn adjusted by the overall productive powers of labour using given tools and machines, the length of the workday, the ...