Modern Theories of Building up Price Systems in Trade Between Socialist Countries
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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.
KeywordsTransportation Cost Price System Socialist Country Wholesale Prex Contract Price
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