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Exchange-value
Exchange-value appears as the proportion in which a use-value of one kind is exchanged for a use-value of another kind, e.g. a certain quantity of wheat for a certain quantity of iron.
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MORE IDEAS ON THIS
The wealth of societies in which the capitalist mode of production prevails appears as an 'immense collection of commodities'; the individual commodity appears as its elementary form
KARL MARX
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Use-value
Use-value of a commodity is the aspect of a thing that satisfies human needs.
It makes no difference what the nature of the need is or how the commodity satisfies it.
A thing can also be useful in more than one way, depending on what is known about it.
Use-values constitute the ...
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CURATED FROM
IDEAS CURATED BY
Learn about the two aspects of commodities.
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Related collections
Other curated ideas on this topic:
Nothing is more useful than water: but it will scarcely purchase anything.
A diamond on the contrary has scarcely any
use-value but a very great quantity of
other goods may frequently be had in
ADAM SMITH, DIAMOND WATER PARADOX
Growth & Value ETFs
An exchange traded fund (ETF) is a type of security that tracks an index, sector, etc... but which can be purchased or sold as a regular stock:
- Value ETFs invest primarily in companies considered undervalued, using (P/E) ratio.
- Growth ...
The value of gold
Some people think that gold has no intrinsic value and that gold's only worth is as a material to make jewellery. Others assert that gold is an asset with various intrinsic qualities that make it unique for investors to gather in their portfolios.
- Mo...
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