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The question of value is one of much dispute.
According to Adam Smith, David Ricardo and Karl Marx things have value due to human labor put in to the commodity. Basically you pay what you pay for a product, based on what you understand you would have to go through to produce that product yourself. These economists argued the act of buying something is merely you trading your labor (for which you are paid wages), for another kind of labor (the kind that goes into the product you want to buy).
In addition to this, there is the more popular, and mainstream theory of Marginal Utility. Marginalists believe in supply and demand, but also in use value. In this model your desire for the use of a product and supply and demand are connected. As Supply changes, so does the usefulness of a product. In this way it is use that determines value.
Ultimately, it is up to you, in the simplest of terms it is a choice between whether you feel you are more motivated by a lack of desire to make something yourself, or a perceived 'need' for a product.
What else can I help you with?
What are the things you value most in life?
The things I value most in life are love, happiness, health, and personal growth.
What two things must an item have to have value?
Anything that many want but few have will have high value. Things that are difficult to make often have high value. But for something to have value it must have UTILITY.
What is the value of your mobile home?
As with many things, 'value is in the eye of the beholder' !
Why don't young lads appreciate things?
Their father has not taught them the value of such things....
What are the things to value in life?
In life, it is important to value things like relationships, personal growth, health, happiness, and making a positive impact on others.
What are the things you can value in life?
In life, you can value things like relationships, personal growth, health, happiness, success, and making a positive impact on others.
What is the value of things owned?
It depends on who owns it.
How do you value your Egyptian things?
Advertise on eBay.
Brainstorm a list of things you value in your life!?
I got the answer, no need of answering.Hurray I understood.
What is ant value that is greater than zero?
How can value ant? How can value Air? How can value light? How can value rain? How can value Rainbow? How can value cloud? that doesn mean it's less valued things.
What do Indian value?
Indians value god friend family and lots of differen things
What are the things that you value most in life?
The things I value most in life are my relationships with loved ones, my personal growth and development, and making a positive impact on the world around me.
