Explain the concept of value with suitable example
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Value-added is the difference between the price of product or service and the cost of producing it. The price is determined by what customers are willing to pay based on their perceived value. ... For example, offering a year of free tech support on a new computer would be a value-added feature
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“A value is a belief that something is good and desirable”. ... Thus, values are collective conceptions of what is considered good, desirable, and proper or bad, undesirable, and improper in a culture. Familiar examples of values are wealth, loyalty, independence, equality, justice, fraternity and friendliness
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