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Use-value as an aspect of the commodity coincides with the physical palpable existence of the commodity. Wheat, for example, is a distinct use-value differing from the use-values of cotton, glass, paper, etc. A use-value has value only in use, and is realized only in the process of consumption. One and the same use-value can be used in various ...
In science, and most specifically chemistry, the accepted value denotes a value of a substance accepted by almost all scientists and the experimental value denotes the value of a substance's properties found in a localized lab. [1]
a value, represented by the socially necessary labour time to produce it (Note: the first link is to a non-Marxian definition of value); a use value (or utility); an exchange value, which is the proportion at which a commodity can be exchanged for other entities; a price (an actual selling price, or an imputed ideal price).
With the case Federal Power Commission v. Hope Natural Gas Co., 320 U.S. 591 (1944) rate base formulation moved from being based on fair value to using the measure of prudent investment. [4] This changed the focus for review to be on the "end result" instead of looking at specific property value or a formula for rate base.
A commodity also has a use value [6] and an exchange value. [7] It has a use value because, by its intrinsic characteristics, it can satisfy some human need or want, physical or ideal. [8] By nature this is a social use value, i.e. the object is useful not just to the producer but has a use for others generally. [9]
From this analysis came the concepts value in use and value in exchange. Value is linked to price through the mechanism of exchange. When an economist observes an exchange, two important value functions are revealed: those of the buyer and seller. Just as the buyer reveals what he is willing to pay for a certain amount of a good, so too does ...
In chemistry and physics, the exchange interaction is a quantum mechanical constraint on the states of indistinguishable particles. While sometimes called an exchange force , or, in the case of fermions, Pauli repulsion , its consequences cannot always be predicted based on classical ideas of force . [ 1 ]
By definition, excess properties are related to those of the ideal solution by: z E = z − z IS {\displaystyle z^{E}=z-z^{\text{IS}}} Here, the superscript IS denotes the value in the ideal solution, a superscript E {\displaystyle E} denotes the excess molar property, and z {\displaystyle z} denotes the particular property under consideration.