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The use-value of a product therefore exists as a material reality according to social needs regardless of the individual need of any particular person. The use-value of a commodity is specifically a social use-value, meaning that it has a generally accepted use-value for others in society, and not just for the producer. [citation needed]
It is the most comprehensive dictionary in the history of Urdu language. [citation needed] It is published by the Urdu Lughat Board, Karachi. The dictionary was edited by the honorary director general of the board Maulvi Abdul Haq who had already been working on an Urdu dictionary since the establishment of the Urdu Dictionary Board, Karachi ...
Commodity production: production for exchange on a market; to maximize exchange-value instead of use-value. Exchange of goods or services, can be enabled by contracts. [104] Exchange of services can be in form of wage labor. [105] Private ownership of the means of production: [14] The investment of money to make a profit. [106] The use of the ...
Value-in-use is the net present value (NPV) of a cash flow or other benefits that an asset generates for a specific owner under a specific use. In the U.S., it is generally estimated at a use which is less than highest-and-best use, and therefore it is generally lower than market value .
In German, the general meaning of "Verwertung" is the productive use of a resource, and more specifically the use or application of something (an object, process or activity) so that it makes money, or generates value, with the connotation that the thing validates itself and proves its worth when it results in earnings, a yield.
In political economy and especially Marxian economics, exchange value (German: Tauschwert) refers to one of the four major attributes of a commodity, i.e., an item or service produced for, and sold on the market, the other three attributes being use value, economic value, and price. [1] Thus, a commodity has the following:
An exchange of money "of the same denomination where the quantity" exchanged is not equal, whether it is in a spot transaction or with deferred payment. [30] "A barter exchange between two weighable or measurable commodities of the same kind", where either the quantity exchanged is not equal, or delivery of one side is deferred (riba al-fadl). [30]
In contrast, socialism was vaguely defined as a system based on the direct production of use-value free of the process of continuous capital accumulation. [7] Friedrich Engels wrote in Anti-Dühring that in the socialist mode of production the law of value will no longer apply and money will no longer be the measure of the exchange value of ...