Lighthouse

Author(s): Udayvallabhvijay
Publisher: Pragna Prabodh Parivar

Page 52

With the concept of commercialization three words are associated; cost, price and value. More often than not, people use price and value as synonyms. However, all these three words have different meanings. If they were to be defined in simple terms;
Cost is decided based on the material cost and labour cost.
Price is decided based on the demand and supply. * Value is decided based on feelings. Let us understand this with an example. A ball point pen - say manufactured by Uni-ball Company involves material and labour cost totaling to Rs.8/-. This Rs. 8/- is the cost of the pen. The same pen is sold in the market and is priced between Rs.15/- to Rs.25/- based on supply and demand. This is the price of the pen. A student is sentimental about one such pen because he considers that pen as lucky for him. He happens to leave behind this pen in some rickshaw. He spends two hours to search for that rickshaw and gets his pen back. He gives a gift of Rs.50/- to the rickshaw driver. This is called value of the pen. In the statue market of Jaipur, a beautiful statue of God is sculpted. The cost of this sculpture is Rs.10,000/- (cost of the marble stone and the labour involved). This statue is sold for Rs. 25,000/- to some individual or to a temple of a sangh. That is the price of the statue. Upon seeing this statue, the believers in the sangha had feeling of awe towards what they perceive as their prabhuji and
Lighthouse
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