Marx believed the value of a good was determined by the amount of labor required to produce it.

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This is one of the core tenets of Marxist economics, known as the labor theory of value. Marx believed that the only true source of value in a commodity was the labor expended in its production, and that the exchange value of goods could be understood in terms of the socially necessary labor time required to produce them.

Marx Believed the Value of a Good Was Determined by the Amount