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Question

___________ refers to the amount of money which must be exchanged for a unit of a commodity.

A
Value
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B
Utility
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C
Price
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D
Goods
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Solution

The correct option is C Price

Power of commodity which can command to exchange itself with the other good is called the Value of product. Usually a product is valued by the money. And this money with which a product is valued is called its price.


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