The Theory That Holds That the Relative Values of Goods

question 87

Multiple Choice

The theory that holds that the relative values of goods and services are ultimately determined by the quantities of labor required in their production is the:

• A) capitalism theory.
• B) labor theory of value.
• C) marginal productivity theory.
• D) theory of surplus value.

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Definitions:

Product

Anything that can be offered to a market to satisfy the want or need of a customer.

Cash Budget

A financial plan that forecasts the cash inflows and outflows over a specific period, typically used to assess liquidity and manage cash effectively.

Budgeted Disbursements

Projected payments planned by a company for various expenses.

Desired Balance

The optimal amount of funds an individual or business aims to maintain in an account.