Question

Difference between economic value and social value

Answer 1

Explanation:

Economic value is a measure of the benefit provided by a product or service to a group of people. It is generally measured relative to units of currency in the economy while Social value is the quantification of the relative importance that Individuals place on the changes they experience in their lives.

Answer 2

Answer:

Economic value is a measure of the benefit provided by a good or service to an economic agent. It is generally measured relative to units of currency, and the interpretation is therefore "what is the maximum amount of money a specific actor is willing and able to pay for the good or service