What is the difference between utility of a commodity and its use value?
Commodity is a product that a human utilize in his\her life. The utility of the commodity is the usage of the product and its value is the determined amount or money paid for its utilization. There arises the question how the value is determined? The value of a commodity is drawn from the movements of the commodity market . the market intrinsic value of the commodity is the value or price which is fluctuated depending on the market movements.
Commodity is a product that a human utilize in his\her life. The utility of the commodity is the usage of the product and its value is the determined amount or money paid for its utilization. There arises the question how the value is determined? The value of a commodity is drawn from the movements of the commodity market . the market intrinsic value of the commodity is the value or price which is fluctuated depending on the market movements.
