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You keep talking about the 'value' of products and what they're 'worth'. Things are worth what people will pay for them. As nirvana pointed out, looking at onl

• pyre 14y ago
  | Things are worth what people will pay for them. If I pay $50 million for a forged Mona Lisa, does that mean that forgeries of the Mona Lisa are all worth $50 million?
  • twoodfin 14y ago
    Of course not. Had you known it was a forgery, you wouldn't have spent $50 million. That would apply just as well to buying a bottle of Heinz ketchup tainted with rat poison. But people know what's in Heinz. They know what it tastes like. They keep buying it at the price Heinz and their grocer charges.
  • tedunangst 14y ago
    It means, at the time you bought, you thought the painting was worth $50 million. Later, when you discover it's not, you'll be less likely to buy anything else from that art dealer. Same as anything else in life. People keep buying ketchup because ketchup remains valuable to them, even at $2 a bottle.
• logn 14y ago
  In addition to the Heinz margins, most grocers rely on only 1% margins.