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 ?
Equally, the people will be filled with disgust at the action of the public works committee in refusing the rent-free use of otherwise valueless premises for a few months to help forward the great work already started by the Emergency Accommodation Bureau.
That meant the number of potential victims increased dramatically, which necessitated finding more efficient ways of killing these "racially valueless.
The ministry described any unilateral and illegal move with regard to the issue of Abyei as valueless, pointing out that the international community, represented in the African Union and the UN Security Council and even the government of South Sudan, have refused to recognize the so-called unilateral Abyei referendum .
According to TC, Senator Joe Manchin had recently warned that Americans will be left holding the bag on a valueless currency and called for either strict regulation or an outright ban on Bitcoin.
What concerns me most is the thought that the one thing everyone should be able to call their own (namely, their qualifications and educational achievements) is at a single stroke as valueless as the "dodgy gear" sold by the Del-Boys of this world when it "fell off the back of a lorry".
He could take action now on zero-hours contracts and the near valueless minimum wage.
Pleaded guilty to fraud by selling a valueless gaming slip receipt for PS20 on March 27.
Ministry spokesman Luong Thanh Nghi called the map and the plan as totally valueless.
stolen But Mr Creffield says the saga has cost him almost PS90,000, left him with a piece of land that is now effectively valueless and wrecked his hopes for the park.
I would like to add my comments to Mr or Mrs TAS's that you discovered that diamonds are valueless too late, after almost four years, but I discovered this before I purchased any.
He added: "Because it occurs everywhere, screening is clearly valueless.
The patriarch wanted to see the Maronite Church retain its ecumenical apostolic character because losing these two aspects would leave the church an empty valueless shell.