economic value
The worth or usefulness of a good, service, or resource in terms of its ability to satisfy human needs or wants.
B2Adjective + NounNode word: economic
Meaning
The worth or usefulness of a good, service, or resource in terms of its ability to satisfy human needs or wants.
Example Sentences
- “The company's new product had a high economic value due to its innovative features and low production costs.”
- “Economic value can be measured by indicators such as price, revenue, and profit.”
Quick Answers
What does “economic value” mean?
The worth or usefulness of a good, service, or resource in terms of its ability to satisfy human needs or wants.
How do you use “economic value” in a sentence?
“The company's new product had a high economic value due to its innovative features and low production costs.”
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