ECONOMIC VALUE

Pronunciation (US): (GB):

Meaning:

The amount (of money or goods or services) that is considered to be a fair equivalent for something else

Example:

he tried to estimate the value of the produce at normal prices

Synonyms:

economic value; value

Classified under:

Nouns denoting possession and transfer of possession

Hypernyms ("economic value" is a kind of...):

amount; measure; quantity (how much there is or how many there are of something that you can quantify)

Hyponyms (each of the following is a kind of "economic value"):

mess of pottage (anything of trivial value)

premium (the amount that something in scarce supply is valued above its nominal value)