Economic Value (Noun)
Meaning
The amount (of money or goods or services) that is considered to be a fair equivalent for something else; "he tried to estimate the value of the produce at normal prices".
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company's economic value was significantly higher after the merger with the rival firm.
- The economic value of the new technology was evident in the increased productivity and reduced costs.
- The artist's paintings have increased in economic value over the years, making them a valuable investment.
- The economic value of the natural resources in the region was a major factor in the country's decision to develop the area.
- The economic value of the new policy was still uncertain, and experts were divided on its potential impact.