22 lines
620 B
Markdown
22 lines
620 B
Markdown
<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-1-chapter-05 -->
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# Measure of Exchangeable Value
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## Definition
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The standard by which the relative worth of different commodities can be compared and evaluated, which Smith argues is labour because it provides a universal and accurate basis for comparison.
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## Source Chapter
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Book I, Chapter 5
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## Context
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Smith develops this concept to explain how different commodities can be compared across time and space, arguing that labour provides the only accurate measure of value.
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## Economic Domain
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Exchange
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---
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