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Use-value as such, since it is independent of the determinate economic form, lies outside the sphere of investigation of political economy. It belongs in this sphere only when it is itself a determinate form. Use-value is the immediate physical entity in which a definite economic relationship—exchange-value—is expressed. [4]
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 ...
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).
Value-in-use, or use value [2] – the net present value (NPV) [3] of a cash flow that an asset generates for a specific owner under a specific use. Value-in-use is the value to one particular user, and may be above or below the market value of a property. Investment value – the value to one particular investor, and may or may not be higher ...
A waqf (Arabic: وَقْف; , plural awqaf أَوْقَاف), also called a ḥabs (حَبْس, plural ḥubūs حُبوس or aḥbās أَحْباس), or mortmain property, is an inalienable charitable endowment under Islamic law.
Mal (Property) concerns the nature and types of property that the contract deal with. [18] Property must exist at the time of transaction; seller must be owner of the merchandise; merchandise must be Islamically lawful; must be of some use or value; must be able to be delivered by the seller to the buyer
The automobile’s transport-function is primary, from which arises its use-value, whilst the social prestige function is secondary, from which arises its sign-value. The French sociologist Jean Baudrillard proposed the theory of sign value as a philosophic and economic counterpart to the dichotomy of exchange-value vs. use-value , which Karl ...
A hundi or hundee is a financial instrument that was developed in Medieval India for use in trade and credit transactions. Hundis are used as a form of remittance instrument to transfer money from place to place, as a form of credit instrument or IOU to borrow money and as a bill of exchange in trade transactions.