Value

From ArticleWorld

Value means worth in general sense, but worth has different meaning according to are in different fields. In the field of economics generally the value is worth of something that can be achieved in the market in the market for product or services in a competition market when a product or services get a price in a monetary term. Though the price and the value is not the same or equal in all the cares. The value is always subjective quality. The value is not equal to cost or replacement cost. Though the value may depend upon the cost, the price of a product is decided by considering cost & profit as per market trends. The theory of value is related to a locative efficiency, the quality of product & services valued by the society. A particular product is put in market which is composed by other products of the same nature by quality and the price which makes value of the product. In the field of cultural values of any person the value of a particular person is done on the basis of beliefs, ideas & opinions. Here the value of a person is not measured in money but it is valued as per ethical norms of each particular society. The greatens of a person is valued as per social norms, such as good, bad, moral, immoral, right, wrong etc. also as per personality norms like beautiful, ugly, unbalanced, pleasing etc. the person is valued. In the field of mathematics a value is a qualitative one viz. constant or variable numbers. In the field of computer science, the value can be a number literal, string, carry etc. which can be represented by a finite sequence of symbols. The definition of the value in case of computer science differs as per programming languages. In the field of law the concept of value in relation to contracts, is related to consideration. The rights are transferred to the transfers as per value of consideration. The court determines the value of each particular case as per the facts circumstances from time to time.