Question

Two points of Difference between price and value in economics
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Answer 1

Explanation:

Price is what you pay for goods or services you acquire; Cost is the amount of inputs incurred in producing a product and Value is what goods or services pay you i.e. worth. ... Price and costs are the same for all the customers. Value varies from customer to customer.

Answer 2

Explanation:

HERE IS UR ANSWER,DUDE!!!!!

1. Price is what you pay for goods or services you acquire; Cost is the amount of inputs incurred in producing a product and Value is what goods or services pay you i.e. worth.

2. Price and costs are calculated in numerical terms. Value can never be calculated in numbers.

3. Price and costs are the same for all the customers. Value varies from customer to customer.

4. Price refers to the money given to the seller for the product while cost involves the seller’s money to produce values. Cost can include labor, capital, materials, bills, salaries and wages of workers, and other transactions like marketing and distribution and shipping.

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