Question

A trouser costs ₹1000 and a shirt costs ₹500. What exchange ratio is made easy by Measure of Value?

Options

• \[2 \text{ trousers} = 1 \text{ shirt}\]

• \[1 \text{ trouser} = 1 \text{ shirt}\]

• \[1 \text{ shirt} = 2 \text{ trousers}\]

• \[1 \text{ trouser} = 2 \text{ shirts}\]

Answer 1

The price of one trouser is twice the price of one shirt. Hence, the exchange ratio is \[1 \text{ trouser} = 2 \text{ shirts}\].