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New page: '''Theory of value''' is an area of study within economics concerned with what things are worth, and why they are worth what they are worth. Theories of value include: * [[Labor theor...
'''Theory of value''' is an area of study within [[economics]] concerned with what things are worth, and why they are worth what they are worth.
Theories of value include:
* [[Labor theory of value]]: Goods and services are worth the total labor necessary to acquire them;
* [[Randian theory of value]]: Value derives from the objective realities of an individual's situation, and reasonable goals on the part of the individual;
* [[Subjective theories of value]]: value is created and determined by subjective demand and scarcity
[[Category:Economics]]
Theories of value include:
* [[Labor theory of value]]: Goods and services are worth the total labor necessary to acquire them;
* [[Randian theory of value]]: Value derives from the objective realities of an individual's situation, and reasonable goals on the part of the individual;
* [[Subjective theories of value]]: value is created and determined by subjective demand and scarcity
[[Category:Economics]]