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luda_lava [24]
3 years ago
15

What determines the value of an item?

Business
1 answer:
galina1969 [7]3 years ago
7 0

The value of item is determined by its utility to the person who is purchasing it. If an item has high utility, then consumers are willing to pay more and will value the product more. If an item has low utility, it will not be very valuable to the person. People value items differently. the old saying that one's man's trash is another's treasure holds true here.

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