...and sometimes the power of purchasing other goods which the possession of that object conveys. Hie one may be called value in use; the other value in exchange. The things," he continues, "which have the greatest value in use, have frequently little or no value in exchange;...

...two distinct meanings: sometimes it expresses the utility of some particular object, at other times the power of purchasing other goods which the possession of that object conveys. He called the former "value in use" and the latter "value in exchange," and observed that the things...

...rules determine what may be called the relative or exchangeable value of goods. '' The word VALUE, it is to be observed, has two different meanings,...expresses the utility of some particular object, and sometime* the power of purchasing other goods which the possession of that object conveys. The one...

...for a week's labor. Fallen, must the same Adam Smith say, "because the value of a thing depends on ith the whole fund of his subsistence. But though this principle" species of bus and labor has a less power of purchasing such other goods. SECTION II Labor of different qualities...

...distinction between the different senses in which it is commonly used. The word "value," says Adam Smith, "has two different meanings, and sometimes expresses...called value in use; the other, value in exchange." In the place of "value in use" we now speak of "utility" ; while instead of "value in exchange," we...

...Uchenie o tsennosti [Theory of value], Kazan, 1893, Book n, p. 122. 1 'The word value', states Smith, 'has two different meanings and sometimes expresses...called "value in use"; the other, "value in exchange'" (Book I, Ch. 4, p. 42 of the 1814 edition). Although Adam Smith explained the concept of exchange value...

...been hawked about as unquestionable by diverse and sundry scribes. It is this : •• The word Value, it is to be observed, has two different meanings,...goods which the possession of that object conveys." So far this is unexceptionable. The word has two meanings — very good. Nothing can be clearer. But...

...although according to Adam Smith, ' the word value has two different meanings, sometimes expressing the utility of some particular object, and sometimes...goods, which the possession of that object conveys,' later writers on political economy have gone further, and traced all value to utility, using, however,...

...compensation which is paid for that labour. IT has been observed by Adam Smith, that " the word Value has two different -meanings, and sometimes expresses...object, and sometimes the power of purchasing other foods which the possession of that object conveys. The one may e called value in use; the other value...

...es hauptsächlich ankommt und auf die unten noch zurückgekommen werden wird, lautet: the word value it is to be observed, has two different meanings and sometimes expresses the utilitv of some particular object and sometime.-i the power of purchasing othi r goods, which the possession...