The term capitalist mode of production is defined by private ownership of the means of production, extraction of surplus value by the owning class for the purpose of capital accumulation, wage-based labor and, at least as far as commodities are concerned, being market-based.
The term capitalist mode of production is defined by private ownership of the means of production extraction of surplus value by the owning class for the purpose of capital accumulation wage-based labor and at least as far as commodities are concerned being market-based