Value is an ambiguous term. Our sense of value is an essential attribute of the human consciousness. Value serves as the basis for judgment, reference, choice and action. The term 'value' itself came to ethics by way of economics. In Economics, it is used for (a) value in use that is, the capacity of object to satisfy a human need or desire and (b) value in exchange or the amount of one commodity that can be obtained in exchange for another. Generally, an object is said to have value, if it contributes to the satisfaction of a human need.
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