Use Value

I also believe it is quite simplistic to say that numerical values determine the use-value or exchange value of an object. We must further understand Marx’s argument by considering the distinction between the two.

Marx distinguishes between use-value and exchange value to draw the differences between the utility of a commodity and the expression of exchange for a particular commodity. Use-value differs from exchange value because a commodity’s use-value would increase when the demand for that particular object increases. However, its exchange value does not necessarily fluctuate in the same manner. Marx explains exchange value as a “quantitative relation” in which how much of something can be exchanged for another. As Barbara has pointed out using the C1 – M – C2 example, money is used in the process of exchange. Exchange value does not entirely take use-value into account as this concept primarily emphasizes the idea of quantitative expression in contrast to qualitative expression being tied back to use-value.