There are many factors to form the value of commodities, the most basic of which is the means of labor, the object of labor and labor. The object of labor and the means of labor are collectively referred to as the means of production.
What forms commodity value is the original value of the means of production transferred by the specific labor of producing commodities and the new value created by the abstract labor of producing commodities.
The value of a commodity, in its literal sense, refers to the evaluation of the satisfaction of the demand between the object of a commodity and its related subjects. Marx believed that commodity value refers to the undifferentiated human labor condensed in commodities, which in essence reflects a certain social relationship between producers. The undifferentiated amount of human labor is directly proportional to the socially necessary labor time to produce the commodity, and inversely proportional to the social labor productivity to produce it. Commodities have value and use value. Commodity value is the undifferentiated human labor condensed in commodities. Use value refers to the usefulness of something to people. It is composed of the natural material structure of the labor object producing it and the spatial trajectory of labor movement.
Value and use value are different. For the buyer, it is through the purchase process that the use value is occupied, while the seller is occupied with value. In reality, the value of commodities is mainly reflected through price.