Summary on economic and management science

Commodities
Commodities is goods which there is demand, supply without
qualitative markets, examples are price of copper. It will fluctuate
on global supply and demand.

One of the characteristics of commodities is that goods is priced

determined as a function of its market as a whole. Commodities
are as a function of its market as a whole. Commodities are basic
resource and agricultural products such as iron ore, crude oil,
ethanol, salt sugar, coffee beans, aluminium, copper ect.

Soft commodities are goods that are grown, while hard

commodities are the ones that are extracted through mining.

Energy commodities include electricity, gas, coal and oil.

Commoditization occurs as goods or services market loses
differentiation across its supply base.

Commodities in Marxism
Karl Marx critique commodity as good’s or services produced by
human labour and offer as a product for general sale on the
market. Marx’s analysis of the commodity is intended to help
solve the problem of what establishes the economic value of
goods, using the labour theory of value.

The learners should learn the following ( SKVA) from the list of
resources gathered from the internet:

Skills learners must respect the use of natural resources, scares

resources

Knowledge how to use the resource, different resources,

economic value of resources, resources not equally distributed in
the world. Resources are not renewable.

Values scare resources

Values use resource