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Marx's Commodity Summary

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Marx's Commodity Summary
Marx opens up chapter one by explaining what commodity is, “Commodity is, first of all, an external object, a thing that through its qualities satisfies human needs of any kind indirectly/directly” (Marx, 125). Useful things can be arranged into two points of view; quality and quantity. These objects have many characteristics which allow them to be used in multiple ways. The use-value pertains to the commodity's quality. Exchange-value, in essence, is when one use-value is exchanged for another use-value.
The value is a huge component of exchange-value when it comes to exchanging commodities. Marx uses the example of iron and corn in his book which he talks about can be represented by an equation in which a quantity of corn can be exchanged
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