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Value (1)
VALUE (1)

Definition: How much something is worth in money or other goods for which it can be exchanged.
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* All six elements would be in.


1. As recommended by manufacturer or producer or creator or owner. And this worth will be specific and not in a range or spread.

2. Amount is bargained or negotiated or discussed by the parties involved - buyer/purchaser and/or middleman/mediator and/or seller.
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STREET ... (undervalued) (See perfect SPECIAL (2).)

Quote: "What we obtain too cheap, we esteem too lightly; it is dearness only that gives everything its value". - Thomas Paine.



3. Figure is accepted by seller, or the person making an offer, and who is to receive something in exchange.

4. Acceptance is backed up with the necessary agreement, memorandum of understanding, IOUs, etc. and/or an eventual exchange or payment.
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MARKET ... (overvalued) (See perfect LOSS-LEADER.)

Quote: "I conceive that the great part of the miseries of mankind are brought upon them by false estimates they have made of the value of things". - Benjamin Franklin.



5. An amount or worth close to what is/was paid for item, can be got, if thing is decided to be exchanged again, soon after the earlier or initial acquisition or purchase.

6. Currency of exchange or 'barter methods', that is, the economy, is strong all through the period that transaction lasts or lasted - from bargaining/negotiation, purchase/possession, usage/application, investment/resale.
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RESIDUAL ... (commensurate value) (See perfect AUCTION.)

Quote: "Nothing can have value without being an object of utility". - Karl Marx.

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