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WHAT consumer and exchange value

What is a consumer and exchange value

Any product on the market has a dualPrices character, which is laid at the stage of production and exchange of goods on the stage. This means that in the product combined consumer and exchange value.

It is necessary to understand what are these characteristics.

use value

Products on the market, havedefinition is useful for the consumer. This utility is not constant, it is for each individual. Of course, the usefulness of a new diary for student disproportionately higher than for the pensioner. Therefore, each product has in the first place, the consumer cost.
Under the utility you can understand the ability of goods to satisfy the needs of the consumer, so he chooses a product with the characteristics of the complex, which will be convenient to him.

Exchange value

This characteristic of the goods is not less thanurgent than it was a few thousand years ago. In those days there was no universal currency, so the market each product was equated to the other items. For example, a liter of olive oil could cost two liters of wine, etc. In other words, the ability of the commodity to be exchanged for others lies in its exchange value.
With the development of market economy, globalization, and so on.d. It took mankind to possess a commodity whose exchange value would be applicable to all the rest. First appeared in the course of gold, silver and bronze coins, and it is quite logical, since it was difficult to extract rare metals. But humanity needs grew, and precious metals are all decreasing and decreasing. Therefore, it was decided to equate the value of gold value of paper money - banknotes. The gold reserves of any country has been equal at the price of a certain amount of currency.
It could not last long, as reservesgold subsided, resulting in depreciation, devaluation and inflation of money in countries with limited gold reserves. Therefore, a new monetary system was adopted in 1976, according to which the currencies is equated at cost price to the currencies of other countries.

Back to the roots

After the 1976 World gold-currency systemI came to the conclusion that the moneys came to possess the ability to exchange with respect to each other. It is opposed to a lot of countries, including the Soviet Union, whose gold reserves than the US only. Of course, the role of gold in the world economy remains very high, but if the money before the reform had bits of the value of gold, but now do not have this money. But with the help of them you can buy the same precious metal as its price from year to year is growing, we can not say about his customer value.

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