Commodity value its commodity value. A commodity value expressed as a price is determined by historical, social and cultural aspects of production and distribution. Karl Marx described price as the money-name for the labour realised in a commodity. A commodity value is dependent on its utility. Commodity value is of particular significance in the study of currency. For example, the commodity value of a coin is the value of the metal of which it is made. Gold and silver coins have a high commodity value, whereas fiat coins such as modern day quarters have a low commodity value. This is of particular
Latin American economy U.S. government pursued foreign-policy objectives. Post-war commodity prices were unstable, there was an oversupply of commodities, and some governments attempted to manipulate commodity prices, such as Brazil's attempt to raise coffee prices, which in turn caused Colombia to increase its production. Since most Latin American countries had been dependent of the commodity export sector for their economic well-being, the fall in commodity prices and the lack of increase in the non-export sector left them in a weak position. Manufacturing for either a domestic or export market had not been a major feature of Latin American economies, but some steps had