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How do you suppose one would measure "value"?
by quizbiz 18y ago
How do you suppose one would measure "value"?
- evgen 18y agoI believe the answer implied was "the market"...
- newt0311 18y agoBy how much they earn. A firm pays their employees in proportion to their contribution (at least on average -- as that is efficient behavior). A firm is paid by customers in proportion to their value contribution. And on and on. Econ 101 of supply, demand, and price signals (one of the few parts that actually works).
- timothychung 18y agoValue is defined in many levels. The easiest definition for everyone should be the value they can think for themselves. For a country, most economists would consider GDP. For me, I would consider sustainability and happiness.