| This question <20|20> overall <18|20> Eastwood: <15|60>. |
| Question 47: Someone says: The exchange-value of an item is created through demand, not by the item itself. If nobody demands the item, it cannot be traded for anything. In other words, exchange-value is created by people wanting the item. How would Marx argue against this? |
| [19] Eastwood: Exchange Value. Demand is more inherent to use-value, than with exchange-value. The more a commodity is demanded, or how scarce the commodity in society determines how useful the commodity is. Exchange-value cannot be derived from its use-value. Exchange-value measures relations between commodities. Exchange-value is not something inherent to the commodity but is entirely dependent on the circumstances of the exchange, not what created the exchange such as demand. |
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