michaelymatthew michaelymatthew
  • 15-03-2020
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What determines the value of a commodity?

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farahm45
farahm45 farahm45
  • 15-03-2020
Currency. A commodity value expressed as a price is determined by historical, social and cultural aspects of production and distribution. Karl Marx described price as the money-name for the labour realised in a commodity. A commodity value is dependent on its utility.
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kwitespooky kwitespooky
  • 15-03-2020

Answer:

Explanation:

- Income and population

- Costs and technology

- Government policy and producer organisations

- Weather

- Interest rates and the US dollar

- Speculation

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