Use Value

To help me understand I think of use-value as "quality" or how it can improve the quality of an individuals life, and exchange value as "quantity" or how many goods/how much money you would receive for it.

In response to Jessica's question on measuring use-value in quantities: I understand it to be that use-value and exchange value are highly interconnected. Marx suggests that "nothing can have value, without being an object of utility." Therefore, in order for a commodity to even have a price marked on it, it must first have high use-value. Yet, Marx even goes on to say that "variations in the magnitude of value...by no means necessarily correspond in amount". This draws upon Jaden's point of it being "too simplistic to directly equate price to exchange-value, as demand is also an important contributor in pricing."