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Value (economics) - Wikipedia
In economics, economic value is a measure of the benefit provided by a good or service to an economic agent, and value for money represents an assessment of whether financial or other resources are being used effectively in order to secure such benefit. Economic value is generally measured through units of … See more
The economic value of a good or service has puzzled economists since the beginning of the discipline. First, economists tried to estimate the value of a good to an individual … See more
In neoclassical economics, the value of an object or service is often seen as nothing but the price it would bring in an open and competitive market. … See more
Adam Smith agreed with certain aspects of labor theory of value, but believed it did not fully explain price and profit. Instead, he proposed a See more
• W. G. Langworthy Taylor. 1985. "Some Important Phases in the Evolution of the Idea of Value". Journal of Political Economy. 3 (4): … See more
The theory of value is closely related to that of allocative efficiency, the quality by which firms produce those goods and services most valued by society. The market value of a … See more
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