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# Price of Commodities

## Definition

The value at which goods exchange in the market, ultimately composed of three distinct parts: wages of labour, profit of stock, and rent of land. This price represents the total value created by economic activity distributed among different claimants.

## Source Chapter

Book I, Chapter 6

## Context

The central concept of the chapter, which Smith analyses to show how it resolves into three component parts. He examines how these components emerge from different economic conditions and how they relate to the distribution of wealth.

## Economic Domain

Exchange

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