economic value
Monetary usefulness measure
Economic value is the worth something has based on its usefulness or desirability to people.
Economists distinguish it from price—a diamond has high price but low practical value compared to water, which is essential but cheap.
Something has economic value if people will give up other things to obtain it: The economic value of clean air is difficult to measure.
The term often appears in policy debates about what's worth protecting or investing in.
- worthDegree of importance
- net worthAssets less debts
- cost benefitExpense versus gain
- bang for buckReturn on investment
- bottom lineEssential point or conclusion
demand · consumption · satisfaction · public good · price · diminishing returns · trade-off · transaction · equity · capital gains · sustainability · opportunity cost · scarcity · welfare · supply · supply and demand · equilibrium · community impact
- economicssupply and demand, inflation, GDP, GNP, gross domestic product
- worthmerit, worth, deserving, worthiness, dignity
- Asset Valuationvaluation, straight-line, amortization, useful life, replacement cost
- valueshonesty, worth, fairness, morals, good
- Money Ethicsethical investment, stewardship
- Financial Values
economic valuesentimental value
Worth from personal attachment
intrinsic value · aesthetic value · symbolic value · personal value · pricelessness
economic valueeconomic burden
Costly obligation or strain
financial liability · worthlessness · valuelessness · depreciation · expense