Question
Distinguish between value and price.
| Basis of Distinction | Value | Price |
| 1. Nature of the Concept | Value is a real concept. | Price is a money concept. |
| 2. Exchange value | The exchange value of one commodity is measured in terms of another com-modity. | Price is the exchange value of a unit of a commodity or service measured in terms of money. |
| 3. Expression | Value of a commodity is expressed as the ratio of exchanges between two commodities. | Price is expressed as the money value of a commodity. |
| 4. Relation | Value is related to any quantity of other commodities. | Price is always determined per unit of a commodity. |
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