2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Primitive society in the form of a family and clan existed in such a way that everyone provided himself and his loved ones with the necessary food, housing, clothing and other benefits. However, as society developed, there was a division of labor. This phenomenon determined the quality of products, but inevitably led to a lack of any benefits for each person.
So, for example, the butcher did not have cereals, and the one who grew wheat did not have pork. The exchange of goods helped to satisfy the needs of each of them. But for this operation, a certain amount of so-called excess products was necessary, which would remain after everyone satisfies their needs in the things produced. That is, the butcher, in order to exchange pork for other products, first had to provide himself with meat in full, and then do it with the raw materials remaining after that. This brief digression into history illuminated the path of the emergence of this phenomenon. Thus, earlier this word "commodity" had the meaning of surplus production. Now products are made specifically for their exchange or sale. Whatis the commodity at present? Let's try to figure it out.
Product properties
What is a commodity? The easiest way to determine the value of an item is to describe its properties.
The first quality of this phenomenon is the ability to exchange for other things. Thus, a commodity is any thing that is not limited in circulation. The second distinguished property is the ability to satisfy any of the needs of people, that is, usefulness for a person. Thus, we can say that a commodity is a product of labor created for the benefit of society. And finally, the third quality describes the purpose of producing things. After all, each product is created for its further sale or exchange. The realization of things implies the receipt of a certain benefit. Therefore, the product of labor produced for sale is a commodity. We figured out the properties.
Commodity theories
In the literature, there are currently two main fundamental approaches to understanding the meaning of what a product is.
The first theory is, of course, Marxist. This approach considers the product as a useful result of the labor activity of people, which is intended for sale. This definition takes into account the ability of such things to satisfy human needs, the purpose of creating products and their connection with human labor. The second approach to understanding what a product is was provided by the Austrian School of Economics. Representatives of this conceptproducts produced for exchange are called economic goods. Thus, one more property of the goods stands out - its quantity is always limited in comparison with human needs. This means that this approach takes into account the relationship between the need for a good and its availability. No matter how many theories exist, the essence of this phenomenon is the same, but everyone looks at it from their own point of view and based on personal interests and priorities.
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