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Question
_______ refers to the importance of a commodity due to its usefulness whereas _______ refers to the capacity of a commodity to command or obtain other goods in exchange.
_______ refers to the importance of a commodity due to its usefulness whereas _______ refers to the capacity of a commodity to command or obtain other goods in exchange.
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Solution
The correct option is A Value in use, value in exchange
Power of commodity which can command to exchange itself with the
other good is called the Value of product. It refers to the importance of a commodity due to its usefulness. Usually a
product is valued by the money. Capacity of a
commodity to command or obtain other goods in exchange is called value of exchange.
Power of commodity which can command to exchange itself with the other good is called the Value of product. It refers to the importance of a commodity due to its usefulness. Usually a product is valued by the money. Capacity of a commodity to command or obtain other goods in exchange is called value of exchange.
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