1963•Problems in EconomicsRequires access

Problems of Determining Value

А. Н. Иванов

Abstract

The calculation of the value of each type of product produced by the national economy and the expression of this value in units of working time socially necessary for its production, as well as in monetary units, is based on the Marxian theory of value. The determination of value and its expression in monetary units makes it possible to establish a scientifically substantiated price for each product.

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Key concepts: Value (mathematics), Production (economics), Product (mathematics), Expression (computer science), Economics, Time value of money, Value theory, Microeconomics