Short Questions:(Max 2 paragraphs) 1. What are the central features of capitalism as an economic system? 2. What is the class relationship at the core of the Capitalist economic system? 3. What role

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Short Questions:(Max 2 paragraphs)

1. What are the central features of capitalism as an economic system?

2. What is the class relationship at the core of the Capitalist economic system?

3. What role does unpaid necessary labor play in the capitalist system?

4. What is the source of surplus value in Capitalism? (In relation to Paid and Unpaid Labor Time)

5. What is the relationship between labor costs and profit per unit?

6. How do bargaining and command relations affect the size of profits created in a capitalist firm?

7. How do firms increase relative surplus value?

8. What is the role of the Reserve Army of Labor in Capitalism?

9. How does competition between capitals necessitate accumulation?

10- How does capital-intensive technical change help firms compete?

11.What are the advantages of scale in capitalist competition?

12.. Describe how capitalist competition could trigger an overproduction of investment goods.

13. How can overproduction trigger crisis in Capitalism?

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