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LSDefine

Simple English definitions for legal terms

exchange value

Read a random definition: no fault

A quick definition of exchange value:

Exchange value refers to the amount of money that something can be exchanged for in a market. It is the price that a buyer is willing to pay and a seller is willing to accept for a product or service. Exchange value is influenced by supply and demand, as well as other factors such as quality, availability, and competition. In simpler terms, exchange value is the worth of something in terms of money when it is bought or sold.

A more thorough explanation:

Definition: Exchange value refers to the amount of money that something can be exchanged for in a market or through a transaction. It is the monetary worth or price of something.

Example: If a person wants to sell their car, the exchange value would be the amount of money they can sell it for in the market. For instance, if the car is in good condition and the market demand is high, the exchange value would be higher compared to a car in poor condition with low market demand.

Another example is when a company wants to purchase raw materials from a supplier. The exchange value would be the amount of money the company is willing to pay for the raw materials, and the supplier is willing to accept for the transaction to take place.

These examples illustrate how exchange value is determined by the market demand and supply of a product or service, and how it can vary depending on the condition, quality, and availability of the item being exchanged.

exchange ratio | Exchequer

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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