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economic value
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measure of the benefit provided by a good or service to an economic agent
Economic value is the measure of how much benefit a good or service provides to a person or organization. It matters because it helps explain why people are willing to buy things and how resources get allocated in an economy.
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In economics, economic value is a measure of the benefit provided by a good or service to an economic agent, and value for money represents an assessment of whether financial or other resources are being used effectively in order to secure such benefit. Economic value is generally measured through units of currency, and the interpretation is therefore "what is the maximum amount of money a person is willing and able to pay for a good or service?” Value for money is often expressed in comparative terms, such as "better", or "best value for money", but may also be expressed in absolute terms, such as where a deal does, or does not, offer value for money.