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Non-commodity items such as stereo systems have many aspects of product differentiation, such as the brand, the user interface and the perceived quality. The demand for one type of stereo may be much larger than demand for another. The price of a commodity good is typically determined as a function of its market as a whole.
In business literature, commoditization is defined as the process by which goods that have economic value and are distinguishable in terms of attributes (uniqueness or brand) end up becoming simple commodities in the eyes of the market or consumers.
These components reflect respectively labour costs, the cost of materials and operating expenses including depreciation, and generic profit. In capitalism, Marx argues, commodity values are commercially expressed as the prices of production of commodities (cost-price + average profit).
In Marx's developed theory, however, the value of the commodity represents the average labour currently required to make it, given the current state of the whole production complex - it is the current social valuation (the replacement cost) of that commodity. [98] This is a synchronic valuation, not a diachronic one. [99]
The Coca-Cola Co. (NYSE: KO) reported fiscal third-quarter results before markets opened this morning. The soft-drink maker posted adjusted diluted earnings per share (EPS) of $0.51 on revenues of ...
COTS can be obtained and operated at a lower cost over in-house development, [citation needed] and provide increased reliability and quality over custom-built software as these are developed by specialists within the industry and are validated by various independent organizations, often over an extended period of time. [citation needed]
In 1934, the U.S. Bureau of Labor Statistics began the computation of a daily Commodity price index that became available to the public in 1940. By 1952, the Bureau of Labor Statistics issued a Spot Market Price Index that measured the price movements of "22 sensitive basic commodities whose markets are presumed to be among the first to be influenced by changes in economic conditions.
Commodity exchange and the corresponding subjective and objective commodity relations existed, as we know, when society was still very primitive. What is at issue here, however, is the question: how far is commodity exchange together with its structural consequences able to influence the total outer and inner life of society?