Essays on Exchange Value

What is use value?

According to Marx every commodity has two characters – one is use value and other is exchange value. The use value of a commodity refers to the satisfaction or utility that an individual derives from the use of the commodity.

What is exchange value?

The exchange value of a commodity is the amount of other commodity which is obtained in exchange for one unit of this commodity.

What about money?

Money is the special commodity and functions as universal exchange equivalent. Relationship between use value and exchange value Use value means a relation between consumer and object consumed and is a subjective relation. But if a commodity ...

Classical economics also known as liberal economics was first developed by the father of economics, Adam Smith. His book "An Inquiry into the Nature and the Causes of the Wealth of Nations" was written in 1776. This period is considered as the beginning of classical economics. Adam Smith contributed to economics with his moral thought. He has given our capitalist economy a different form. But Karl Marx first used the term classical economics . He was the most influential thinker and most controversial in his time. He was a great philosopher, social scientist and revolutionary. He is the main person ...

Introduction

According to Walters, (2005) feminism is defined as an historical and theoretical term that describes cultural, economic, political and social movements. Its core metrics is captured within ideologies designed at establishing the legal and equal rights for women. This feminism seeks to establish sociological, political theories and philosophical aspects for gender differences and also more opportunities for women in context of employment, education and their rights and interest as well.

Simone de Beauvoir claims that ‘the first instance we witness a woman holding up a pen in her hand defending her sex’ and this provide an emotional link to Ms. Christine ...

Implementation of any policy by the government has its benefits as well as its setbacks. However the government should consider revising on the effect(s) of such a policy on various aspects of the economy.

The conversion of vacant urban plots into gardens will have both advantages and disadvantages to the economy. Some individuals or even companies will benefit from such a policy while others will be disadvantaged. Examples of such individuals or companies benefiting from the program would comprise of: - The food processing industries. Urban gardening would increase the amount required in these industries and probably at a lower ...

Degrading Nature: Rising Sea level in Caribbean Sea

Lately, rising sea level is among the contentious environmental issues and has become more challenging in environmentalism. Rising sea level has various impacts on both the natural environment and human populations, more especially those living on islands and the coastal regions. It is estimated that the sea level rose by about 1.8 yearly in 1950-2010, and this rate keep on increasing with time. There are a number of factors that are associated with the rising sea level. The Caribbean sea-level rise serves as a good illustration of how the sea-level rise is an environmental challenge (Gallagher, 2006). This paper seeks to ...

Using two advertisements from contemporary visual culture, discuss the exchange value associated with the commodity signs featured in them. How do these advertisements attract the "desiring gaze" of the consumer to encourage their normalisation? 1. "Glow" by JLO Print Ad

In this print advertisement, a perfume from recording artist Jennifer Lopez is marketed and endorsed using several unique commodity signs. For one, the typical comparison of the perfume bottle as a female body is made clear when placed side-by-side with the implicitly naked figure of Jennifer Lopez next to it. By directly alluding to the curves of the female body ...

Inflation on the Sterling Pound and Its Impact on Tesco

Recently, the term inflation has become very common in economics as almost every country and society in the world was hit by an increase in the general prices of goods and services over the last four years. Inflation is the term used to refer to this general rise in the cost of living over a given period, which is usually a shorter time than expected in an ideal economy (Boyes, W. J., and Melvin, 2010). In addition, inflation implies that the currency at that particular time will absolutely decrease in its value, as each unit of money will buy lesser quantities ...