Question

In Das Kapital, Volume 1, Marx states that exchange value of three different commodities such as corn, iron and linen _______

• A. cannot be calculated as different kinds of human labour are necessary to produce them
• B. cannot be calculated as their use value and exchange value are different
• C. can be calculated using abstract labour time which provides their respective exchange value
• D. can be calculated using abstract labour time which provides their respective use value

Hint:

In Marxian economics, exchange value is rooted in abstract labour, not in utility or specific types of labour.

Answer 1

The Correct Option is C

Step 1: Understand Marx’s concept of value in Das Kapital. 
Marx distinguishes between use value and exchange value. The exchange value arises from the amount of abstract socially necessary labour time spent in production. 
Step 2: Analyze the correct choice. 
(C) is correct: Abstract labour time serves as the common denominator for calculating exchange value across different commodities like corn, iron, and linen.