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27 February, 11:08

What determines the value of a commodity?

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Answers (2)
  1. 27 February, 11:14
    0
    - Income and population

    - Costs and technology

    - Government policy and producer organisations

    - Weather

    - Interest rates and the US dollar

    - Speculation
  2. 27 February, 11:18
    0
    Currency. A commodity value expressed as a price is determined by historical, social and cultural aspects of production and distribution. Karl Marx described price as the money-name for the labour realised in a commodity. A commodity value is dependent on its utility.
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