The Difference Between the Value of Goods and Services Produced

question 29

Multiple Choice

The difference between the value of goods and services produced and their costs were referred to by Radicalists as

• A)surplus value.
• B)surplus cost.
• C)marginal value.
• D)marginal cost.
• E)profits.

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Definitions:

Merchants

Individuals or companies engaged in the buying and selling of goods, especially on a large scale or with foreign countries.

UCC

Uniform Commercial Code, a set of laws that govern commercial transactions in the United States.

Common Law

A legal system based on customs and court rulings, as opposed to statutory laws enacted by a legislative body.

Predominant Purpose

The main intent or objective behind a contract or transaction, often used to interpret the nature of the agreement.