Explain the difference between commercial value and economically value in simple words.
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Commercial Value implies the value of a product when it is offered for sale in the market. ... On the other hand, economic value implies the cost of getting (or consuming) more of one good in terms of sacrificing benefits of another goods.
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- Commercial Value implies the value of a product when it is offered for sale in the market....
- On the other hand, economic value implies the cost of getting (or consuming) more of one good in terms of sacrificing benefits of another goods.
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