value in exchange

Exchange Value

The theoretical value of a commodity if it were to be traded. In Marxist economics, this is similar to but distinct from the concept of price, which is a money value of a commodity in a transaction. It differs from use value in that use value measures quality while exchange value measures quantity.

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value in exchange

The value of property if one were to exchange it for goods and services.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.