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[127] Jimmy: By labeling value as a commodity rather than the former, it can
take the form of something of a measureable worth. Whereas the name
‘value’ is something that is different for all individuals and
firms. Because it is a subjective term, value must be changed to a
measurable term. As with other questions the value or use-value of a
certain good is only measured by its use. I could value a puddle of
water, unless someone else feels the same about that puddle of water
it is only of value to me. If it is then changed to be a commodity
such as drinking water, not just something with a personal value, then
it can be used to trade. Or at least something of real worth.
Commodities are traded, values are different for most people and
items. |
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