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 ?
Underrated jobs were identified for their favorable income and environment, and low stress.
School principal was another of the underrated jobs, and their pay packet comes to a healthy 87,760 dollars.
All that I want is appreciation from the audience for my work," says Nawazuddin, who admits that he enjoys "being an underrated actor".
Felipe) Massa is underrated, the same with me, and it's for nothing.
Haynes, who is an underrated novelist, has fashioned a great story that once you have completed this latest novel will entice many to read some or all of his previous work, if they have not already done so.
Longterm use of phthalate-coated pills may be an underrated route of phthalate exposure, the researchers suggest.
The publication is especially significant because Milhaud's music, somewhat underrated and underrepresented in the latter part of the twentieth century, is experiencing a renaissance.
Furthermore, Heglar's study, by emphasizing textual exposition, becomes a useful beginning for more intense and theoretical consideration of these two heretofore underrated texts.
Now, at the beginning of the 21st century, is as good a time as any to nominate the CEO most likely to be underrated by future generations.
Clausen, vice president and general manager, said the workers' comp market in general is "underpriced and underrated, which consequently drives up the loss ratio--and that drives volatility"
A reprise of her version on 1992's A Very Special Christmas 2, it gets a jazzy backdrop, and her often underrated vocal stylings fit perfectly.
The firm's early work included the underrated 1991 feature South of Wawa and the final version of the CBC-TV series Material World.