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15 June, 03:48

How can you determine the cost of something without concidering mearly its monitary value

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  1. 15 June, 05:53
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    We can count the amount of money we need to spend to obtain that thing.

    Explanation:

    Monetary value is reliant on the currency that we need to exchange in order to a certain product. Currently, this type of value implementation is the one that commonly used by most people in all of our transactions.

    For example,

    Let's say that you go to Walmart and see a toothbrush with $3 price tags, without any additional discount. This means that the monetary value of that toothbrush is $3. That's it.
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