Two terms in The Wealth of Nations are not understood. Please interpret it with a master

use value.

Exchange Value Transaction Value.

When the use value of the commodity is greater than the transaction value, consumers will buy more goods.

Use value is the value that an item has to the consumer. That is, the value on the consumer demand curve.

The reason why people buy a good is because the degree of satisfaction it can bring to consumers can be greater than the price that consumers must pay (that is, the market**, that is, exchange value), you can also understand the use value as the consumer's reservation**, that is, the maximum bid that can be afforded, it should be equal to the satisfaction that the commodity can bring to consumers.

Usually, the price of a good is less than the retention of the consumer who bought it (the consumer who retains ** below the price of the product has been automatically excluded from the market because they will not buy the product), and the difference between the market and the reservation is the consumer surplus.

A simple example, in general, a watermelon sells for a pound (in midsummer), because at this time watermelon can quench thirst and cool off, you think a pound is cost-effective, and you are willing to buy it, just because, at this time, your evaluation of the utility of watermelon is greater than a pound, that is, your use value is greater than this.

If that watermelon sells for 10 yuan a catty, you will definitely not buy it, you must think that the seller is crazy, and you think that the watermelon cannot bring you so much utility.

However, if you are on Mount Huashan, you have drunk all the water, you are thirsty and sunburning, you are about to collapse, or your friends and relatives are with you, you are about to die of dehydration, at this time, you are likely to buy 10 pounds of watermelon. Because at this time, it is not only fruit, but also water, and may even be able to save lives, at this time, your understanding of its value has changed, your retention of it has risen, its use value has risen, and at this time, not to mention 10 yuan a catty, 15 yuan, 20 yuan You may also buy, because your reservation of it has risen to more than 10 yuan, and you still think that it is not expensive.

To sum up, use value refers to the ** on the consumer demand curve, which is directly related to the degree of satisfaction that consumers can get from it, that is, the retention of consumers.

Use value Exchange value.

Marx's economics absorbed many elements of classical economics.

The main point of The Wealth of Nations is that human nature is self-interested, and the pursuit of personal interests is the only motive force for people to engage in economic activities. At the same time, people are rational, and as rational economic beings, people can obtain the greatest personal benefits in their economic activities.

The Wealth of Nations laid the theoretical foundation for the capitalist free economy, and the publication of the book marked the establishment of the theoretical system of classical political economy, which can be called the "bible" of Western economics.

The main research content of The Wealth of Nations. The Wealth of Nations is a study of the nature, composition, accumulation, and use of capital. In this article, it is first clearly stated that the composition of capital can be divided into fixed capital and circulating capital, distinguishes between productive and unproductive labor, and discusses the various forms of capital, i.e., between loan capital, industrial capital, and commercial capital.

The first two articles cover basically everything about Smith's theory of political economy.

The Wealth of Nations is a book written by Adam Smith in 1776 and is considered a classic in the field of economics. The book focuses on the concept of economic growth and the factors that contribute to the prosperity of a country.

One of the main points in The Wealth of Nations is that freedom** and free markets promote prosperity and economic growth. Smith believed that when people were free to produce, buy, and sell goods and services as they saw fit, this led to increased efficiency and productivity, which in turn increased wealth and prosperity. Smith also argues that intervention in the economy, such as through the use of tariffs or subsidies, distorts market forces and hinders economic growth.

Another key point in The Wealth of Nations is that the division of labor is a key driver of economic growth. According to Smith, when people specialize in the production of a particular good or service and do it with others, this increases efficiency and productivity because people are able to do their specific tasks skillfully and are able to produce more products in less time.

Overall, the main point of The Wealth of Nations is that free markets and the division of labor are key drivers of economic growth and prosperity. Smith's views and arguments in The Wealth of Nations remain influential in today's economic thought and policy.

The words of the Wealth of Nations are: the country is rich and the people are healthy, the country is rich and the people are strong, and the country is rich and the soldiers are strong.

The words of the theory of wealth of the nation are: the people are rich and the country is rich, the wealth is worthy of the enemy country, and the country is rich and the army is strong. 2：

Pinyin is, guófùlù: the structure is, the country (the structure of the whole encirclement), the fu (the upper and lower structure), the theory (the left and right structure). 4：

Zhuyin is, 5: the part of speech is, noun.

What is the specific explanation of the Wealth of Nations, we will introduce it to you through the following aspects:

1. Explanation of the key to the word [click here to view the details of the plan].

The Wealth of Nations, whose full name is An Inquiry into the Nature and Causes of the Wealth of Nations, is an economic work written by the classical British economist Adam Smith for nearly ten years, first published in 1776.

Idioms about the Wealth of Nations.

The country is rich and the people are safe, the country is rich and the people are strong, the soldiers are strong, the soldiers are strong, the country is rich, the people are rich, the people are rich, the people are rich, the country is rich, the people are rich, the country is rich, the people are rich, the country is rich, the country is rich.

Read "The Wealth of Nations" in three minutes

Smith's The Wealth of Nations is a classic worth reading, because it is a classic that can give new inspiration whenever you read it.

The first question is that the object of the study of "The Wealth of Nations" is the economic behavior of people when they exchange with each other, and it is believed that the starting point of economic behavior is self-interest, and everyone pursues their own economic interests, which is a natural phenomenon of human nature. First of all, human exchange is an economic act, and even if an animal has an exchange act, it cannot be regarded as an economic act.

The second question, this is like dividing the cake, this is a relative dynamic and static problem, the so-called fastest growing country is a process of making a big cake, in this process, the new cake must be distributed! Workers will also benefit from this process, while the so-called richest countries, the countries with the largest pies, will not necessarily continue to produce new pies (lower GDP growth rates), and workers' wages will at best be maintained or fallen.

The third problem, low prices first start from bulk raw materials, all the material basis of human beings is built on this basis, just like the economic situation of modern society, when it is good, the price of bulk commodities (raw materials) rises first, and when it is bad, it is first of all that the price of raw materials is reduced, and the price of raw materials is reduced (the price in the market has not been able to fall immediately for a while), at this time, the profits of manufactured goods are relatively high, so the manufacturing owners will maintain a higher output (production of more points) in order to pursue profits. But as this state stabilizes, that is, many manufacturers produce more, which will lead to a decline in goods (this is a later story) - the transmission is always slow, but the results are obvious.

Fourth, The Wealth of Nations says that labor is the only source of wealth, and thrift is the only means of accumulating wealth. The year of material abundance is the result of the right time, place and people, just like this time when social stability, good climate, and people's happy life subtly lead to the improvement of people's production efficiency, and all these results will lead to a sudden abundance of materials in society. On the one hand, the problem of making the cake bigger mentioned above, the employer will also get more cakes (materials, money), on the other hand, the social materials are abundant, and the raw materials will decline, which is related to the third problem.

The above is my answer, and it is also a summary of some of my gains from reading "The Wealth of Nations", and I hope that the landlord will raise any questions and discuss them and make progress together.

Although Smith's "The Wealth of Nations" is a classic, the ideas of Western economics now go far beyond what Smith thought at that time. So I'm trying to explain these problems in terms of modern Western economics.

The first question, which I don't know very well, may have to ask a biologist.

The second problem, the real wage (WP) of a worker in a competitive market, is determined by the marginal output (MPL) of labor, i.e., WP=MPL. In other words, the level of real wages depends on the product of each additional unit of labor invested. Obviously, a country with high wages may not be the richest at all, but it should be the country with the highest marginal labor production.

What increases the wages of labor is the increase in the marginal output of labor (technological progress and the decrease in the number of labor will increase the marginal output).

The third problem is mainly due to the low "elasticity of supply" of the manufacturing industry at that time, that is, the output q is not sensitive to the reflection of the change of **p, so when the output declines, the output will not decline significantly, and finally the total income (tr=p*q) is greater than the previous total income.

The fourth problem is that the abundance of materials means that the output of the year is very large, and the income realized by selling all of them is large, and the cash of the enterprise is naturally more abundant, which will also cause higher labor demand and increase wages.

In fact, you can take a look at the current microeconomics, which has a more mature analysis of these problems, and I hope it will help you.