According to Marx, the Standard on Which the Value of Commodities

question 19

Multiple Choice

According to Marx, the standard on which the value of commodities is based is

• A) the degree of usefulness of the commodity
• B) the amount of labor time necessary to produce the commodity
• C) the level of exploitation experienced by the worker
• D) the exchange of private property necessary for actualizing an exchange

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Definitions:

Total Risk

The entire range of uncertainties including market and specific risks that affect the value of an investment.

Unsystematic Risk

The risk associated with a particular company or industry, as opposed to the market as a whole; also known as specific or idiosyncratic risk.

Market Level

The current status or position of prices, stocks, or commodities within a particular market.

Systematic Risk

Market-wide or market segment-specific dangers that cannot be eliminated by diversifying one's investment portfolio.