Question

what is economic value and commercial value

Answer 1

Explanation:

Both market value and economic value are widely used in business for various purposes. Each valuation employs different criteria in their calculations. Market value is the price of something, such as an asset that's determined by the supply and demand of the asset in the marketplace. The economic value represents the maximum amount a customer is willing to pay for something.

Answer 2

Answer:

Commercial Value implies the value of our product when it is offered for sale in the market....On the other hand, economic value implies the cost of getting more of one good in terms of sacrificing benefits of another goods.

Explanation:

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