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Subject Area: Economics
Topic: General Treatises on Economics

THE VALUE, MARKET VALUE, OR ACTUAL VALUE, OF A COMMODITY AT ANY PLACE OR TIME. - Thomas Robert Malthus, Definitions in Political Economy [1827]

Edition used:

Definitions in Political Economy (London: John Murray, 1827).

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THE VALUE, MARKET VALUE, OR ACTUAL VALUE, OF A COMMODITY AT ANY PLACE OR TIME.

40. The estimation in which it is held at that place and time, determined in all cases by the state of the supply compared with the demand, and ordinarily by the elementary costs of production which regulate that state.