How does one define value? Like most definitions, the answer to that question is predicated largely on the source providing the answer. Value is, after all, subjective in context. By definition value is little more than the relative worth, merit, or importance of any object, action or idea. It is an instrumental term used to quantify usefulness, opportunity, and/or significance. Value is diverse, fluid, and ever evolving.
In economic terms however, value tends to be identified in a more empirical context. Economic value, as any college sophomore can tell you, is essentially the collaborative worth of all the benefits, rights, and assets derived from ownership. Granted, supply and demand play a pivotal role in assessing monetary value, but at...
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