The exchange value of a good or service defines its:
A) quality.
B) price.
C) durability.
D) production cost.

Name: The exchange value of a good or service defines its: A) quality. B) price. C) durability. D) production cost.
Brand: Quizplus
Rating: 4.9 (31 reviews)

Question

Quizplus · Accepted Answer

The exchange value of a good or service refers to the price that it can be sold or exchanged for in the market. Therefore, choice B (price) is the best answer. Quality, durability, and production cost may influence the exchange value, but they do not define it.

The Exchange Value of a Good or Service Defines Its