In the production of goods, labor and materials are transformed into them. Therefore, a product is the result of these actions, which can be exchanged for other products. It is not intended for personal consumption. Each product has a value, which is divided into two categories: consumer and exchange. It depends on the properties of the product and the invested funds. Let us consider in more detail what exchange value is.
The product has properties that determine its value. It is intended to meet the needs of society, but not the one who produces it. It is the properties that satisfy certain needs and are components of consumer value.
The properties of the goods may vary with the new requirements of production. But in order for these properties to gain a marketable appearance, it is necessary to make a product a subject of labor. The result is a product designed to meet the needs of other people. Thus, consumer value complements the exchange value of the goods.
It can be said that consumer properties are an abstract concept. In contrast, exchange value is a finished product for the production of which a certain amount of labor was expended. Such a product can be exchanged for other results of labor in those volumes and proportions that are established using other market instruments.
In other words, exchange value is a certain amount of consumer value of a commodity in which it can be exchanged for a certain amount of consumer value of another commodity.
Here it is necessary to note the current trend of the exchange of goods. Some equal ratios are exhibited, which fluctuate in the middle range for all products. However, such equality cannot be attributed to the consumer value of goods, because they are different in their qualities and functions.
Exchange value is set in accordance with the amount of labor expended on the manufacture of goods. This is due to the fact that it is this indicator that can be quantified.
In the production process, the total value of the goods appears. But it is discovered only as a result of exchanging it for another product. Exchange value plays a big role here.
The properties that the product possesses determine the value of the product. They are an internal factor. An external factor must be attributed to their manifestation in the exchange process, which is the exchange value.
The dependence of consumer value on exchange value is significant. We can say that the latter indicator directly depends on the properties of the product. In today's market, this is the most important factor that increases exchange value.
It is on the market that the product is found with other similar products. So there is competition. Here, an important role is played by the qualities and properties of the product. It is necessary that he more fully satisfy the needs of society. This increases the consumer value of the goods.
If a product by its properties is able to more fully satisfy the needs of the buyer, then its exchange for other products occurs at a higher exchange value.
Therefore, the result of any activity should be a higher exchange value of the goods.
But not only consumer value affects the level of production profit. It is important to consider many factors. It is necessary to rationally use the resources and labor expended in the production of goods. Then a high exchange value will bring more effect.
Exchange value manifested itself from the origins of the emergence of commodity relations. Subsequently, money became the common equivalent of exchange.