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What Is Exchange Value Of Labour?

January 24, 2024 by Ahmed Ali

What Is Exchange Value Of Labour? Marx regards exchange-value as the proportion in which one commodity is exchanged for other commodities. … The value of a good is determined by the socially necessary labour time required to produce the commodity. Marx believed that an understanding of exchange-value was necessary to explain fluctuations in price. What

What Is The Use Of Non-use Value?

January 24, 2024 by Emily Lee

What Is The Use Of Non-use Value? Non-use value is the value that people assign to economic goods (including public goods) even if they never have and never will use it. It is distinguished from use value, which people derive from direct use of the good. The concept is most commonly applied to the value