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labor theory of value

Noun CEFR C2

Definitions

The theory, usually associated with Marxian economics, that freely reproducible goods obtain their value from socially necessary human labor time.

uncountable

Equivalents

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CEFR level

C2
Mastery
This word is part of the CEFR C2 vocabulary — mastery level.
See all C2 English words →

See also

labor union Labor Zionism labor-intensive labor-intensiveness labor-saver laborant

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