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 classic literature ?
Plant it at the very doors of the poor, so that they may at last breathe its air, and it will raise the value of the neighboring houses and drive the poor away.
The princess, not knowing its value, laughingly bade the slave take it and make the exchange.
In a country like ours, where there are eighty nationalities in the public schools, the telephone has a peculiar value as a part of the national digestive apparatus.
Adrienne had carried it once to her employer, the milliner, with the intention of disposing of it, but the price offered was so greatly below what she knew to be the true value, that she would not sell it.
He will reason thus: - 'I am innocent; I am poor; my Ourang-Outang is of great value - to one in my circumstances a fortune of itself - why should I lose it through idle apprehensions of danger?
If he knew them better, he would value their society as it deserves; for they are in fact exactly the sort of people he would like.
Finally, she inquired of the landlord what was the value of the carpet in her bedroom, as well as where the said carpet had been manufactured; but, the landlord could do no more than promise to make inquiries.
There were values other than the beastly rent-values, and in short, in short -
Your Majesty has something which I should value even more highly," said Holmes.
The man must value the pipe highly when he prefers to patch it up rather than buy a new one with the same money.
Of course, it contained frescoes by Giotto, in the presence of whose tactile values she was capable of feeling what was proper.
Wherever Captain Carter has used Martian measurements of time, distance, weight, and the like I have translated them into as nearly their equivalent in earthly values as is possible.