value; worth; usefulness
Meanings
2 senses · 7 examplesnoun
value (in commodities); socially necessary labor congealed in products
technicalIn Marxist political economy, value is determined by the amount of socially necessary labor time required for production. Natural things like air may have use-value but lack this kind of value.
The value of a commodity is determined by the socially necessary labor time required to produce it.
Things not processed by human labor, such as air, have use-value but no value.
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The theory of surplus value is the cornerstone of Marxist political economy.
noun
worth; usefulness; positive significance
neutralUsed broadly to indicate merit, importance, utility, or significance in abstract or concrete contexts.
These materials have a lot of reference value.
We need to explore the value of life.
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This kind of shoddy product is completely worthless.
People with different values find it hard to reach consensus.