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economic value

Definition Source References

A measure of the benefit provided by a good or service to an economic agent (e.g. buyer or seller). It is not necessarily the same as market value. It is generally measured by units of currency, and can be interpreted to mean the maximum amount of money a specific actor is willing and able to accept or pay for the good or service.

Economists group values in terms of their use or non-use. Use values can be both direct and indirect, and can relate to current or future (option) uses.

Scenarios and models assessment