Definitions (4)

1.Accounting: The monetary worth of an asset, business entity, good sold, service rendered, or liability or obligation acquired.
2.Economics: The worth of all the benefits and rights arising from ownership. Two types of economic value are (1) the utility of a good or service, and (2) power of a good or service to command other goods, services, or money, in voluntary exchange.
3.Marketing: The extent to which a good or service is perceived by its customer to meet his or her needs or wants, measured by customer's willingness to pay for it. It commonly depends more on the customer's perception of the worth of the product than on its intrinsic value.
4.Mathematics: A magnitude or quantity represented by numbers.

Use value in a sentence

  • Marcie felt that she got good value from her economy car, because it had been inexpensive to purchase and was also cheap to run.

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  • He placed a high value on loyalty, and only made friends with people who he thought exhibited it in all aspects.

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  • When giving away promotional items at events, I tell my staff to say that the items are a gift, rather than free, because calling them free lessens the value of the item to the consumers.

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