value

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Value

A measure of worth. Value is generally expressed in monetary terms. For example, the value of a house may be $100,000. Generally, the value of a product depreciates over time, though it sometimes appreciates instead (notably in real estate). How easily one can sell a product for its value helps determine how liquid the product is.

value

the money worth of a PRODUCT or ASSET. Value is measured in terms of the PRICE which buyers are prepared to pay for the product or asset. The amount which they are prepared to pay depends upon the benefits which they expect to derive from consuming or owning the item. See PRICE-QUALITY TRADEOFF, PSYCHOLOGICAL PRICING, VALUE CREATED MODEL, CONSUMER SURPLUS.

value

the money worth of an ASSET or PRODUCT. Early economists such as Adam SMITH and David RICARDO suggested that the value of an asset or product depended upon the amount of LABOUR needed to produce it, while later economists like William JEVONS emphasized that the UTILITY of a product to a consumer determined its value. Nowadays, economists accept that both supply and demand factors are important in determining the value of a product, by establishing a MARKET PRICE for it. See also CONSUMERS’ SURPLUS, VALUE ADDED, PARADOX OF VALUE.

value

The worth of all rights arising from ownership of property.

References in periodicals archive ?
The ninefold increase in prevalence with the 5 [micro]g/dL reference value was even greater than the fivefold increase reported by the Pennsylvania Department of Health (PA DOH) in Philadelphia (PA DOH, 2011).
Follow-up investigation on day 16 of illness showed an increased IgG titer (80) against chikungunya virus (by indirect immunofluorescence assay; reference value <1:20) (6) but no IgM titer.
Multi-ethnic reference values for spirometry for the 3-95-yr age range: The global lung function 2012 equations.
7%, compared with reference values in patients with the smallest paraesophageal hernias, those with a preoperative intrathoracic stomach (ITS) of less than 50%.
5% with zero bias and imprecision) was considered the maximum acceptable level on the basis of the IFCC guideline on the calculation of reference values with n = 120 (4).
There is no universally accepted definition of reference values for use in external quality assurance (EQA) programs for IHC tests, including testing for class II breast cancer markers.
The work covers standard testing procedures which address both the PET and CT components including frameworks for reference values, tolerance and action levels, minimal required configurations with corresponding performance characteristics, and the management of ancillary equipment.
The authors conclude that findings support the value of the BE approach for assessing population risks based on biomonitoring data and suggest that current 2,4-D exposures are generally below reference values for acceptable exposure levels.
The combined maximum tariffs were determined based on projected workload units, capital investments and operating expenses authorised for the period from 2010 to 2014, as well as those in the respective parameters including reference values, discount rates and efficiency factors.
Reference values for five subsets of leukocytes include T lymphocytes, B lymphocytes, granulocytes, monocytes, and NK cells.
Relative to reference values for domestic cattle, cobalt, copper, manganese, selenium, and zinc levels are deficient or marginally deficient in some animals, however, there appears to be little supporting evidence that clinical deficiencies of any of these trace elements are occurring in Nova Scotia moose or deer populations.