FACTOID # 14: North Carolina has a larger Native American population than North Dakota, South Dakota and Montana combined.
 
 Home   Encyclopedia   Statistics   States A-Z   Flags   Maps   FAQ   About 
   
 
WHAT'S NEW
RELATED ARTICLES
People who viewed "Value" also viewed:
 

SEARCH ALL

FACTS & STATISTICS    Advanced view

Search encyclopedia, statistics and forums:

 

 

(* = Graphable)

 

 


Encyclopedia > Value

Value is worth in general, and it is thought to be connected to reasons for certain practices, policies, actions, beliefs or emotions. Value is "that which one acts to gain and/or keep." -- Jan L. A. van de Snepscheut In philosophy, practical reason is the application of reason to real-world decision-making (ie. ... A policy is a plan of action for tackling issues. ... Philosophy of action is chiefly concerned with human action, intending to distinguish between activity and passivity, voluntary, intentional, culpable and involuntary actions, and related question. ... Look up belief on Wiktionary, the free dictionary. ... Emotion in its most general definition is a neural impulse that moves an organism to action, originating automatic reaction behavior which has been adapted through evolution as a survival need. ...


Value as defined in economics is only a small subcategory of 'value' in general, as defined in value theory or in the science of value. ... The science of value, or value science, is a creation of philosopher Robert S. Hartman which attempts to formally elucidate value theory using both formal and symbolic logic. ...

Contents


Economics

In general, the value of something is how much a product or service is worth to someone relative to other things (often measured in money). An example of Money. ...


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. This is determined primarily by the demand for the object relative to supply. Other economists often simply equate the value of a commodity with its price, whether the market is competitive. Neoclassical economics refers to a general approach (a metatheory) to economics based on supply and demand which depends on individuals (or any economic agent) operating rationally, each seeking to maximize their individual utility or profit by making choices based on available information. ... The supply and demand model describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). ...


In classical economics, price and value were not seen as equal. In this tradition, to Steve Keen "value" refers to "the innate worth of a commodity, which determines the normal ('equilibrium') ratio a which two commodities exchange." (Debunking Economics, p. 271, ISBN 1-86403-070-4.) To Keen and the tradition of David Ricardo, this corresponds to the classical concept of long-run cost-determined prices, what Adam Smith called "natural prices" and Karl Marx called "prices of production." It is part of a cost-of-production theory of value and price. Ricardo, but not Keen, used a "labor theory of price" in which a commodity's "innate worth" was the amount of labor needed to produce it. Classical economics is a school of economic thought whose major developers include William Petty, Adam Smith, David Ricardo, Thomas Malthus, and John Stuart Mill, and Johann Heinrich von Thünen. ... Steve Keen is a senior lecturer in economics in the University of Western Sydney. ... David Ricardo (April 18, 1772 – September 11, 1823), a British political economist, is often credited with systematizing economics, and was one of the most influential of the classical economists. ... Adam Smith, FRSE (Baptised June 5, 1723 – July 17, 1790) was a Scottish political economist and moral philosopher. ... Karl Heinrich Marx (May 5, 1818 Trier, Germany – March 14, 1883 London) was an influential German philosopher, political economist, and revolutionary organizer of the International Workingmens Association. ... Prices of production refers to a concept in Karl Marxs critique of political economy. ... In economics, the cost-of-production theory of value is the belief that the value of an object is decided by the resources that went into making it. ... The labor theory of value (LTV) is a theory in economics and political economy concerning a market-oriented society: the theory equates the value of an exchangeable good or service with the amount of labor required to produce it. ...


In another classical tradition, Marx distinguished between the "value in use" (use-value, what a commodity provides to its buyer), "value" (the socially-necessary labour time it embodies), and "exchange value" (how much labor-time the sale of the commodity can claim, Smith's "labor commanded" value). By most interpretations of his labor theory of value, Marx, like Ricardo, developed a "labor theory of price" where the point of analyzing value was to allow the calculation of relative prices. Others see values as part of his sociopolitical interpretation and critique of capitalism and other societies, and deny that it was intended to serve as a category of economics. According to a third interpretation, Marx aimed for a theory of the dynamics of price formation, but did not complete it. In Marxs critique of political economy, any labor-product has a value and a use value, and if it is traded as a commodity in markets, it additionally has an exchange value, most often expressed as a money-price. ... Socially necessary labour time in Marxist political economy is the source of all value. ... In Marxian political economy, exchange value refers to one of three major aspects of a commodity, i. ... The labor theory of value (LTV) is a theory in economics and political economy concerning a market-oriented society: the theory equates the value of an exchangeable good or service with the amount of labor required to produce it. ... The price of one thing (usually a good) in terms of another; ie, the ratio of two prices. ... The labor theory of value (LTV) is a theory in economics and political economy concerning a market-oriented society: the theory equates the value of an exchangeable good or service with the amount of labor required to produce it. ...


In 1860, the year after oil was first struck in Titusville, Pennsylvania, John Ruskin published a critique of the economic concept of value from a moral point of view. He entitled the volume Unto This Last, and his central point was this: "It is impossible to conclude, of any given mass of acquired wealth, merely by the fact of its existence, whether it signifies good or evil to the nation in the midst of which it exists. Its real value depends on the moral sign attached to it, just as strictly as that of a mathematical quantity depends on the algebraic sign attached to it. Any given accumulation of commercial wealth may be indicative, on the one hand, of faithful industries, progressive energies, and productive ingenuities: or, on the other, it may be indicative of mortal luxury, merciless tyranny, ruinous chicanery." Gandhi was greatly inspired by Ruskin's book and published a paraphrase of it in 1908. 1860 is the leap year starting on Sunday. ... Titusville is a city located in Crawford County, Pennsylvania. ... Upper: Steel-plate engraving of Ruskin as a young man, made circa 1845, scanned from print made circa 1895. ... Unto This Last is an essay on economy by John Ruskin, first published in December 1860 in the monthly journal Cornhill Magazine in four articles. ... Mohandas Karamchand Gandhi (M K Gandhi) (Devanagari: मोहनदास करमचन्द गांधी; Gujarati: મોહનદાસ કરમચંદ ગાંધી; October 2, 1869 – January 30, 1948) was a spiritual and political leader of India who led the movement for Indian independence from the British Empire. ...


Economists such as Ludwig von Mises asserted that "value" was always a subjective quality. There was no value intrinsic to objects or things and value derived entirely from the psychology of market participants. Thus, it was false to say that the economic value of a good was equal to what it cost to produce or to its current replacement cost. Ludwig Heinrich Edler von Mises (September 29, 1881 - October 10, 1973), was a notable economist and social philosopher. ...


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 machine part, for example, will depend upon a variety of objective facts involving its efficiency versus the efficiency of other types of part or other types of machine to make the kind of products that consumers will value in turn. In such a case, market value has both objective and subjective components. Allocative efficiency is the market condition whereby resources are allocated in a way that maximises the net benefit attained through their use. ...


Personal and cultural values

Each individual has a core of underlying values that contribute to our system of beliefs, ideas and/or opinions (see value in semiotics). Integrity in the application of a "value" ensures its continuity and this continuity separates a value from beliefs, opinion and ideas. In this context a value (e.g. Truth or Equality or Greed) is the core from which we operate or react. Societies have values that are shared among many of the participants in that culture. Individuals' values typically are largely but not entirely in agreement with their culture's values. In common speech, the word individual most often refers to a person, or, by analogy, to any specific object in a group of things. ... In semiotics, the value of a sign depends on its position and relations in the system of signification and upon the particular codes being used. ... Semiotics, or semiology, is the study of signs, both individually and grouped in sign systems. ...


These values can be grouped into four categories:

  • Ethics (good - bad, virtue - vice, moral - immoral - amoral, right - wrong, permissible - impermissible)
  • Aesthetics (beautiful, ugly, unbalanced, pleasing)
  • Doctrinal (political, ideological, religious or social beliefs and values)
  • Innate/Inborn (inborn values such as reproduction and survival, a controversial category)

A value system is the ordered and prioritized set of values (usually of the ethical and doctrinal categories described above) that an individual or society holds. A value system refers to the order and priority an individual or society grants to ethical and ideological values. ...


Some values recognized in various cultures in the western world include:

Acceptance, in spirituality, mindfulness, and human psychology, usually refers to the experience of a situation without an intention to change that situation. ... Accountability has several meanings. ... Look up adventure in Wiktionary, the free dictionary. ... Altruism is alternately a belief, a practice, a habit, or an ethical doctrine. ... Appreciation is a term used in accounting relating to the increase in value of an asset. ... For other meanings of the word balance, see: propaganda equilibrium (disambiguation page) sense of balance weighing scale analytical balance (a precise weighing scale) balance beam in gymnastics Balance (song) homeostasis, the biological balance within a human or other animals body When the weights on the plates of this balance... Chastity, in many religious and cultural contexts, is a virtue concerning the state of the mind and body. ... Compassion (in Pali: Karuna) is a sense of shared suffering, most often combined with a desire to alleviate or reduce such suffering; to show special kindness to those who suffer. ... Look up Confidence and confidence in Wiktionary, the free dictionary. ... Co-operation refers to the practice of people or greater entities working in common with commonly agreed-upon goals and possibly methods, instead of working separately in competition. ... Courage is the ability to confront fear in the face of pain, danger, uncertainty or intimidation. ... Etiquette is the code that governs the expectations of social behavior, the conventional norm. ... Creativity is a human mental phenomenon based around the deployment of mental skills and/or conceptual tools, which, in turn, originate and develop innovation, inspiration, or insight. ... are you kiddin ? i was lookin for it for hours ... To meet Wikipedias quality standards, this article or section may require cleanup. ... In computer science, dependability is defined as [1] Dependability includes the following attributes of a computing system [2]: Availability: readiness for correct service; Reliability: continuity of correct service; Safety: absence of catastrophic consequences on the user(s) and the environment; Security: the concurrent existence of (a) availability for authorized users... This article is being considered for deletion in accordance with Wikipedias deletion policy. ... Discipline is any training intended to produce a specific character or pattern of behaviour, especially training that produces moral or mental development in a particular direction. ... This article is about the scientific concept of energy. ... Empathy is the recognition and understanding of the states of mind, beliefs, desires, and particularly, emotions of others. ... ... Enthusiasm (Greek: enthousiasmos) originally meant inspiration or possession by a divine afflatus or by the presence of a god. ... EQUAL is a popular artificial sweetener Equal (sweetener) Equality can mean several things: Mathematical equality Social equality Racial equality Sexual equality Equality of outcome Equality, a town in Illinois See also Equity Egalitarianism Equals sign This is a disambiguation page — a navigational aid which lists other pages that might otherwise... Justice is a concept involving the fair and moral treatment of all persons, especially in law. ... Fantasy is a genre of art, literature, film, television, and music that uses magic and other supernatural forms as a primary element of either plot, theme, setting, or all three. ... For the financial services company, see Fidelity Investments. ... Look up focus in Wiktionary, the free dictionary. ... The study of the future researches the medium-term to long-term future of societies and of the physical world. ... Friendship is a human relationship which involves mutual knowledge, esteem, and affection. ... This page is a candidate to be moved to Wiktionary. ... In social psychology, the everyday concept of helpfulness is technically defined as (1) the property of providing useful assistance, and (2) friendliness evidenced by a kindly and helpful disposition [syn: kindliness]. For many years, social psychologists have been searching for answers to these questions: Why, and when, will people help... Look up Honesty in Wiktionary, the free dictionary Honesty, the quality of being honest, is a value which can be defined in multiple ways. ... Humility is the state of being humble. ... Humour (Commonwealth English) or humor (American English) is the ability or quality of people, objects or situations to evoke feelings of amusement in other people. ... Imagination is, in general, the power or process of producing mental images and ideas. ... Innocence is a term that describes the lack of guilt of an individual, with respect to a crime. ... Integrity comprises the personal inner sense of wholeness deriving from honesty and consistent uprightness of character. ... The inventive step is a patentability requirement present in most European patent laws, and in particular in the European Patent Convention (EPC). ... Justice - Wikipedia, the free encyclopedia /**/ @import /skins-1. ... Look up kindness in Wiktionary, the free dictionary. ... It has been suggested that True love be merged into this article or section. ... This page is about the philosophical and semantic background of loyalty. ... Mercy is a term used to describe the leniency or compassion shown by one person to another, or a request from one person to another to be shown such leniency or compassion. ... Moderation is the process of eliminating or lessening extremes. ... Modesty describes a set of culturally determined values that relate to the presentation of the self to others. ... Nurture is usually defined as the process of caring for and teaching a child as they grow. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Openness is related to open source and is a philosophy that is being used as the basis of how various groups and organizations operate. ... Half full or half empty? Wikiquote has a collection of quotations related to: Optimism Optimism, the opposite of pessimism, exemplifies a lifeview where one looks upon the world as a positive place. ... Wikiquote has a collection of quotations related to: Patience Patience is the capacity to endure hardship, difficulty, or inconvenience without complaint. ... The concept of peace ranks among the most controversial in our time. ... Six Sigma is a quality management program to achieve six sigma levels of quality. ... Perseverance Perseverance was an early steam locomotive that took part in the Rainhill Trials. ... It has been suggested that this article or section be merged with Scalar potential. ... Purpose is deliberately thought-through goal-directedness. ... Respect is the objective, unbiased consideration and regard for the rights, values, beliefs and property of all people. ... In moral philosophy, the word responsibility has at least two related meanings: The obligation to answer for actions. ... The word restraint has several meanings: the emotional discipline of self-restraint handcuffs, shackles and other forms of physical restraint the act of employing physical restraints See also: constraint This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... Self-awareness is the ability to perceive ones own existence, including ones own traits, feelings and behaviours. ... Discipline is any training intended to produce a specific character or pattern of behaviour, especially training that produces moral or mental development in a particular direction. ... In psychology, self-esteem or self-worth is a persons self-image at an emotional level; circumventing reason and logic. ... Self-Reliance is an essay by Ralph Waldo Emerson. ... In psychology, self-esteem or self-worth is a persons self-image at an emotional level; circumventing reason and logic. ... See: Sensitivity (electronics) Sensitivity (human) Sensitivity (tests) For sensitivity in finance, see beta coefficient This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... Sharing is the joint use of a resource. ... In the modern world, sincerity is the elusive virtue of speaking truly about ones feelings, thoughts, desires. ... The cross of the war memorial and a menorah for Hanukkah coexist in Oxford. ... Honesty, the quality of being honest, is a value which can be defined in multiple ways. ... Understanding is a psychological state in relation to an object or person whereby one is able to think about it and use concepts to be able to deal adequately with that object. ... Wisdom is the ability to make correct judgments and decisions. ...

Marketing

In marketing, the value of a product is the consumer's expectations of product quality in relation to the actual amount paid for it. It is often expressed as the equation  : It has been suggested that Product marketing be merged into this article or section. ... Quality refers to the inherent or distinctive characteristics or properties of a person, object, process or other thing. ...

Value = Benefits / Price
or alternatively:
Value = Quality received / Expectations

There are parallels between cultural expectations and consumer expectations. Thus pizza in Japan might be topped with tuna rather than pepperoni, as pizza might be in the US; the value in the marketplace varies from place to place as well as from market to market. Anthropological theories of value attempt to expand on the traditional theories of value used by economists or ethicists. ... A Pizza Margherita made in Naples (Napoli), Italy. ... Species Thunnus alalunga Thunnus albacares Thunnus atlanticus Thunnus maccoyii Thunnus obesus Thunnus orientalis Thunnus thynnus Thunnus tonggol Tuna are several species of ocean-dwelling fish in the family Scombridae, mostly in the genus Thunnus. ... In English, pepperoni refers to a spicy Italian-American variety of dry salami made of pork. ... A marketplace is the space, actual or metaphorical, in which a market operates. ... Place is a term that has a variety of meanings in a dictionary sense, but which is principally used as a noun to denote location, though in a sense of a location identified with that which is located there. ... Street markets such as this one in Rue Mouffetard, Paris are still common in France. ...


Mathematics

In mathematics, a value is a quantitative value - a constant (number), or a variable. Mathematics is often defined as the study of topics such as quantity, structure, space, and change. ... Number is the current mathematics collaboration of the week! Please help improve it to featured article standard. ... In computer science and mathematics, a variable is a symbol denoting a quantity or symbolic representation. ...


Computer science

In computer science, a value may be a number, literal string, array and anything else that can be represented by a finite sequence of symbols. The exact definition of a value varies across programming languages. For more, see value (computer science). Computer science is the study of information and computation. ... Number is the current mathematics collaboration of the week! Please help improve it to featured article standard. ... In various branches of mathematics and computer science, strings are sequences of various simple objects (symbols, tokens, characters, etc. ... In computer programming, an array, also known as a vector or list (for one-dimensional arrays) or a matrix (for two-dimensional arrays), is one of the simplest data structures. ... Computer code (HTML with JavaScript) in a tool that uses syntax highlighting (colors) to help the developer see the function of each piece of code. ... It has been suggested that value (programming) be merged into this article or section. ...


Law

In law, particularly with respect to contracts, value is a concept closely related, but not identical, to that of consideration. It has been suggested that this article or section be merged with Consideration under English law. ...


At common law, certain transferrable obligations were only enforceable if the transferee had acquired them for value. Under the rules of equity, the rights of a bona fide purchaser for value would not be interfered with. State courts of various jurisdictions in the US adopted varying definitions of what constituted "value". This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ... This article is about concept of equity in Anglo-American jurisprudence. ... In the U.S., a state court has jurisdiction over disputes which occur in a state. ...


Under the Uniform Commercial Code, except with respect to Article 3, a person gives value for rights if he acquires them in exchange for: The Uniform Commercial Code (UCC) is one of the uniform acts that has been promulgated in attempts to harmonize the law of sales and other commercial transactions in the fifty state in the United States of America. ...

  1. a binding commitment to extend credit or for the extension of immediately available credit;
  2. as security for or in total or partial satisfaction of a preexisting claim;
  3. accepting delivery pursuant to a preexisting contract for purchase;
  4. generally, any consideration sufficient to support a simple contract.

Under Article 3 of the Code, a negotiable instrument is transferred for value if the transferee receives in exchange: A negotiable instrument is a specialized type of contract which obligates a party to pay a certain sum of money on specified terms. ...

  1. a promise of performance, to the extent the promise has been performed;
  2. a security interest or other lien in the instrument other than a lien obtained by judicial proceeding;
  3. the total or partial discharge of an antecedent claim against any person, whether the claim is due;
  4. another negotiable instrument; or
  5. an irrevocable obligation to a third party by the person taking the instrument.

The setting forth in express terms of what is "value" in the context of commercial transactions was a bold step forward by the drafters of the UCC, since the jurisdictional distinctions as to value made certain transactions valid in one state and invalid in another.


See also

Anthropological theories of value attempt to expand on the traditional theories of value used by economists or ethicists. ... Value theory concerns itself with the worth, utility, trading or economic value, moral value, legal value, quantitative or aesthetic value of people and things - or the combination of all these. ... ... Definition Fair value, also called fair price, is a concept used in finance and economics. ... Moral character or character is an evaluation of a persons moral and mental qualities. ... This article may contain original research or unverified claims. ... To act as a store of value, a commodity, a form of money or financial capital must be able to be reliably saved, stored, and retrieved - and be predictably useful when it is so retrieved. ...

External links


  Results from FactBites:
 
Best resale value cars - CNN.com (447 words)
The average car loses about 65 percent of its value over five years, according to the automotive pricing firm Kelley Blue Book.
The cars that hold their value best lose about half their value over 5 years, according to Kelley Blue Book.
Two factors that drive resale value are a car's perceived quality - the better a car seems to hold up over time, the better it's value will hold up - and scarcity.
ArtLex on Value (713 words)
Value is an especially important element in works of art when color is absent.
Below and in the background: a value scale employing a smoothly nuanced gradation of values.
Understanding that art speakers more typically employ "value" to reference the continuum of lightness / darkness of reflected light, when we speak of the "luminosity" of any passage in a drawing, painting or print, we are unbothered about whether the reader might think the surface is lit internally or from its back.
  More results at FactBites »

 
 

COMMENTARY     


Share your thoughts, questions and commentary here
Your name
Your comments

Want to know more?
Search encyclopedia, statistics and forums:

 


Press Releases |  Feeds | Contact
The Wikipedia article included on this page is licensed under the GFDL.
Images may be subject to relevant owners' copyright.
All other elements are (c) copyright NationMaster.com 2003-5. All Rights Reserved.
Usage implies agreement with terms, 1022, m