Question

When can one say that a certain product has a value?

Answer 1

Answer:

We can say that a certain product has a value when it is sold on Market and if many people demands on it. Products are produced to satisfy our needs and wants.

Answer 2

Answer:

A certain product is said to have value when there is demand in the market.

Explanation:

• The value of a product depends on the market demand.
• The market demand gives us information about the product's demand.
• This tells us how willing are the customers to purchase the product.
• As, there is an increase in the demand for the product, it establishes the price increase.

Hence, every product gets assigned a certain value and this depends on its demand.

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