A commodity is an object outside of us. It satisfies human wants regardless of the nature of those wants. History discovers the various uses of things as well as the establishment of socially recognized standards of measure of quantities of useful objects. The multiplicity of these measures is found on the different nature of entities to be measured. The utility has no existence apart from that commodity.
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The value of assets arising from their utilization is not related to the extent of labour needed to get out or realize its useful attributes. The use-value of commodities bestows upon them commercial knowledge. Exchange value, on the other hand, is a quantitative relation, hence, its accidental or purely relative and intrinsic value.
Commodity and labour posses use value and exchange value. Division of labour is very important in the production of commodities. Nevertheless, the production of goods is not a prerequisite for the division of labour within any society. The use-value of each commodity contains useful labour. It goes without saying that a lot of people’s work is necessary for a good productive activity. A rise in the level of use of commodities points toward a surge in material wealth among the population. The twofold nature of labour implies that a surge in the quantity of material wealth leads to a reduction of its worth and, hence, the demand.
Commodities also have unique physical and value forms. Money form is common to all the commodities. Expression of the value of a single commodity can be done in the form of elementary or accidental form of value or total or expanded form of value.