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:

Compliance

The act of conforming to set rules, standards, or laws.

Influence Tactic

Strategies or approaches used by an individual or group to persuade or alter the behavior of others.

Negotiate

The process of discussing to reach an agreement or compromise between parties with differing needs, desires, or perspectives.

Resolve Conflicts

The process of finding a peaceful solution to a disagreement among parties, which can involve negotiating or mediating to find a mutually acceptable solution.