According to Marx, the standard on which the value of commodities is based is

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According to Marx, the value of commodities is based on the amount of labor time necessary to produce them. This is known as the labor theory of value, which argues that the value of a commodity is determined by the amount of socially necessary labor time required to produce it. This idea is central to Marx's analysis of capitalism and his critique of the exploitation of workers under the capitalist system.

According to Marx, the Standard on Which the Value of Commodities