Use Value
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Fragment of a discussion from Talk:SOCI370/capitalbygroup2
I think everyone has made really valid and good points. The way I understood use-value, in response to Jessica's question, is that use-value is something that can be measured, but it depends on the person using the item. I think that in terms of an item as a commodity, its use-value increases based on how the person perceives it. Like Professor Greer's example about the use-value of a shovel, she may have paid $7 for it, but its worth to her is a lot more because of it's usefulness on the farm. I think money and prices are a way of interpreting one person's perspective on an item's use-value, as well as representing exchange-value in a more physical form.