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Economic Value
The value created through the efforts of business units and corporate activity.
Implications
The value of a product, service, or asset based on the benefit it provides relative to its cost, often used to determine pricing, investment decisions, and business strategies by assessing how much customers or markets are willing to pay.
Example
Example: A software company assesses the economic value of its new application by determining how much time and cost it saves users compared to existing solutions, justifying a premium price.
Related Terms
Different from market value, which is the price at which something is bought or sold, economic value focuses on the intrinsic worth based on utility and benefits.
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