Modern Theories of Building up Price Systems in Trade Between Socialist Countries

K. I. Popov

Chapter Chapter 10 in Price Formation in Various Economies, 1966, pp 145-150 from Palgrave Macmillan

Abstract: Abstract Both in trade between socialist countries and in price-fixing within these countries, the price system is based on the Marx-Lenin theory of value. While taking into account such factors as supply and demand and the utility of goods for a consumer, this theory states that changes in the price level take place around a definite steady point which is the social value of a commodity. This social value consists of the individual values of separate producers and is defined by the labour time necessary for producing a commodity under conditions of production that are socially normal and involve the average degree of skill and intensity of labour prevalent at the time in the given society.

Keywords: Transportation Cost; Price System; Socialist Country; Wholesale Prex; Contract Price (search for similar items in EconPapers)
Date: 1966
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-08467-8_10

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DOI: 10.1007/978-1-349-08467-8_10

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