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 English football team is overrated whereas the Tartan Army - the fans - is underrated - Rossco.
Not to mention that Larry Poons was making remarkable drip paintings around 1970, underrated works for which Steir's paintings look rather like warm-up exercises.
IF you're looking for the most underrated talent in the Premiership - then take a peek at Ewood Park.
Underrated thriller, starring Bruce Willis as a burnt-out police officer who is given the job of escorting a criminal (Mos Def, right with Willis) to court so he can testify against a group of corrupt cops.
But the Rocket is well capable of winning more than just the minimum requirement tonight and Sporting may have underrated his supremacy by making him superior by just 1-1.4 frames.
Simon is one of the most underrated performers in top-class tennis.
Underrated supernatural chiller from director Sam Raimi, starring Cate Blanchett (right) as a mild-mannered young widow left to provide for her offspring with her special gift - clairvoyancy.
Wonderful to see Carruthers, an English home-bred horse pick up a decent prize for the small underrated Bradstock stable and Mattie Batchelor.
Ron Howard's underrated romantic comedy about a seemingly ordinary man who's catapulted to global superstardom when he agrees to become the focus of a 24 hour TV show which broadcasts every element of his life.
TODD CANTWELL says Teemu Pukki is underrated and has more to his game than just goals.
The Cool Smashers encountered a rough patch in the first set as the underrated Lady Jet Spikers kept the frame close mainly through lanky middle spiker Dell Palomata.
Take whistling for instance, a most underrated talent.