Introduction to Value

Question 1

What is value in its most basic terms

Answer 1

A measure of goodness

Question 2

What is instrumental value

Answer 2

Good to have as they are instrumental to achieve or obtain something else that is good

Question 3

What is intrinsic value

Answer 3

A measure of what an asset is worth

Question 4

What is value a measure of

Answer 4

How good something is: that frames value as situated in use and in context

Question 5

What is exchange value

Answer 5

The proportion at which a commodity can be exchanged for other commodities

Question 6

What are the two main types of non-use value

Answer 6

1. Existence value

2. Bequest value

Question 7

What is existence value

Answer 7

Value which individuals perceive due to the existence of items or environmental assets that individuals enjoy

Question 8

What is bequest value

Answer 8

The belief that future generations inherit an item or environmental asset of value to them - e.g. Grandchildren enjoying a park where they also enjoyed.

Question 9

What is Dis-Value

Answer 9

Damage inflicted on the environment and earths systems contributing to transgressing ecological limits and jeopardising integrity of ecological systems.