[SOLVED] Commodity, Rationalization, and Globalization

Create a 6 pages page paper that discusses commodity, rationalization and globalization. He further states that objects (commodities) are not a part of human beings, but these commodities achieve value regarded as “use value” to individuals when these objects gain the status of necessity and important in an individual’s life. When an object is regarded gains use-value, the commodity becomes an object that is highly wanted by individuals and in certain cases becomes a means of an individual’s survival. For example insulin dependant diabetic patients can not survive without insulin, so insulin is an object that has attained the status of use-value in an individual’s life. The first characteristic of a commodity is that it has a certain value that is a representation of the amount of labor used to produce that commodity. Since commodity has a value attached to it, individuals try their level best to use it in an economical manner. Other characteristics of commodity include the value of exchange, use and a price attached to it. A commodity has a value of use because it consists of characteristics that can satisfy an individual’s desires and requirements and these desires can be physical as well as emotional in nature. This means that a commodity has a social value attached to it as it is not only a beneficial object to the manufacturer. it is of even great importance to the user and other stakeholders. The commodity comprises a value of exchange this means that one commodity can be obtained in exchange for another commodity. Commodity provides the benefit of other’s work to the owner of the commodity. The characteristic of the price of a commodity is the representation of the value of the exchange of the commodity. The value of exchange can even be represented through the exchange of different commodities. According to Marx, the trade and exchange of commodities started taking place between communities that had separate boundaries in the form of economics.&nbsp.

 

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