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Value may have one of the following meanings, depending the context of the term:

1. worth of all the rights arising from ownership. 2. the quantity of one thing that will be given in exchange for another.

A piece of property may have a certain value to its owner (value in use) equal to the amount of other property (typically cash) that the owner would be willing to accept in exchange for the property without loss in wealth or well-being. The same property may have a different fair market value (value in exchange) equal to the amount of other property exchanged for the property when many typically motivated buyers and sellers are allowed to interact.

Description and Definition of Value

The worth of a thing.


See Also

Further Reading

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