In Ricardo's view, what does “Exchange Value" represent?

CA Foundation · Business Economics · PYQS · September 2024
In Ricardo's view, what does “Exchange Value" represent?
(A) A. The subjective preferences of individuals
(B) B. The cost of production of a commodity
(C) C. Power in exchange over purchasable commodities in general
(D) D. The quantity of labour embodied in a commodity

Suggested Answer and Working Notes:

Correct Answer: Option (D)

D. The quantity of labour embodied in a commodity

Topics: Theory of Production and Cost

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