query: what is the term for the monetary value of goods and services

pos: Value (economics) Value (economics) 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"? Among the competing schools of economic theory there are differing theories of value. Economic value is "not" the same as market price, nor is economic value the same thing as market value. If a consumer is willing to buy a good, it implies that the

pos: Ecosystem services which the economic value of services can be inferred and assigned. The six major methods for valuing ecosystem services in monetary terms are: A peer-reviewed study published in 1997 estimated the value of the world's ecosystem services and natural capital to be between US$16–54 trillion per year, with an average of US$33 trillion per year. However, Salles (2011) indicates 'The total value of biodiversity is infinite, so having debate about what is the total value of nature is actually pointless because we can't live without it'. Although monetary pricing continues with respect to the valuation of ecosystem services, the challenges

pos: Value-form formed that express "what products are worth". These steps are: These forms are different ways of symbolizing and representing what goods are worth, to facilitate trade and cost/benefit calculations. The simple form of value does not (or not necessarily) involve a money-referent at all, and the expanded and general forms are intermediary expressions between a non-monetary and a monetary expression of economic value. The four steps are an abstract summary of what essentially happens to the trading relationship when the trade in products grows and develops beyond incidental barter. The value relationship in Marx's economic sense begins to emerge, when

pos: Virtual crime various tasks and a substantial level of effort. According to standard conceptions of economic value, the goods and services of virtual economies do have a demonstrable value. Since players of these games are willing to substitute real economic resources of time and money (monthly fees) in exchange for these resources, by definition they have demonstrated utility to the user. Stemming from their value in the virtual economy, these items, and the characters themselves, have gained monetary value in the real world. eBay, along with specialist trading sites, have allowed players to sell their wares. This has attracted fraudulent sales as

pos: Economy of East Asia of copper coins began to phase out and the use of commodity money such as rice, silk, and clothes which all maintained stable value were used in place of the coins. Commodity money began to gain economic value and status and became the stable criteria for evaluating monetary value of various goods and services. Since carrying rice, silk, and clothes was cumbersome and inconvenient, a credit economy emerged to burden the shoulder of transportation and handling costs. Government offices in the Japanese capital issued payment orders similar to modern-day checks to rice warehouses under their political constituencies. The Japanese economy

pos: Regenerative economic theory Regenerative economic theory Regenerative economics is an economic system that works to regenerate capital assets. A capital asset is an asset that provides goods and/or services that are required for, or contribute to, our well being. In standard economic theory, one can either “regenerate” one's capital assets or consume them until the point where the asset cannot produce a viable stream of goods and/or services. What sets regenerative economics apart from standard economic theory is that it takes into account and gives hard economic value to the principal or original capital assets — the earth and the sun. We cannot

neg: Monetary policy aggregate demand (the overall demand for all goods and services in an economy), which boosts short-term growth as measured by gross domestic product (GDP) growth. Expansionary monetary policy usually diminishes the value of the currency relative to other currencies (the exchange rate). The opposite of expansionary monetary policy is contractionary monetary policy, which maintains short-term interest rates higher than usual or which slows the rate of growth in the money supply or even shrinks it. This slows short-term economic growth and lessens inflation. Contractionary monetary policy can lead to increased unemployment and depressed borrowing and spending by consumers and businesses,

neg: Store of value that is, it can easily be exchanged for other goods and services. An individual's wealth is the total of all stores of value including both monetary and nonmonetary assets. Monetary economics is the branch of economics which analyses the functions of money. Storage of value is one of the three generally accepted functions of money. The other functions are the medium of exchange, which is used as an intermediary to avoid the inconveniences of the coincidence of wants, and the unit of account, which allows the value of various goods, services, assets and liabilities to be rendered in multiples of

neg: Money supply the monetary value of all new transactions, whether of real goods and services or of paper assets. The monetary value of assets, goods, and services sold during the year could be grossly estimated using nominal GDP back in the 1960s. This is not the case anymore because of the dramatic rise of the number of financial transactions relative to that of real transactions up until 2008. That is, the total value of transactions (including purchases of paper assets) rose relative to nominal GDP (which excludes those purchases). Ignoring the effects of monetary growth on real purchases and velocity, this suggests

neg: Part exchange It is the affixture of the monetary value of £192 to the bullocks and £215 to the barley that made it a sale. Indeed, it is not necessary even for the contracting parties themselves to assign a monetary value to the goods for a part exchange deal to be held to be a sale. In "Bull v Parker", the court itself assigned a value (£4) for new riding equipment, sold for some old riding equipment and £2. If goods/services have obvious monetary values, then a part exchange deal can be held to be a sale. It was held in "Aldridge

neg: Voucher Voucher A voucher is a bond of the redeemable transaction type which is worth a certain monetary value and which may be spent only for specific reasons or on specific goods. Examples include housing, travel, and food vouchers. The term voucher is also a synonym for receipt and is often used to refer to receipts used as evidence of, for example, the declaration that a service has been performed or that an expenditure has been made.Voucher is a tourist guide for using services with a guarantee of payment by the agency. The term is also commonly used for school vouchers,

neg: Unpaid work at the cost of hiring a nanny, or to value the cost of cooking a meal, look at the cost of eating a similar meal at a restaurant. The flaw with this method is that it cannot account for the added sentimental value of having a mother stay at home with her children rather than a stranger. The input/output cost method measures the value of unpaid domestic work by calculating the monetary value of the economic goods and services produced by unpaid domestic work and how much these goods and services would sell for in the open market. Dynamic policy

neg: Part exchange Part exchange A part exchange or part exchange deal is a type of contract. In a part exchange, instead of one party to the contract paying money and the other party supplying goods/services, both parties supply goods/services, the first party supplying part money and part goods/services. Whether a part exchange is a sale or a barter is a fine point of law. It depends from whether a monetary value is assigned to the non-money goods supplied. Several cases at law clarify this. In the case of "Flynn v Mackin and Mahon" an old car was supplied in part exchange for

neg: Voucher to content only available if you pre-order at that store. Voucher A voucher is a bond of the redeemable transaction type which is worth a certain monetary value and which may be spent only for specific reasons or on specific goods. Examples include housing, travel, and food vouchers. The term voucher is also a synonym for receipt and is often used to refer to receipts used as evidence of, for example, the declaration that a service has been performed or that an expenditure has been made.Voucher is a tourist guide for using services with a guarantee of payment by the

neg: Agricultural value chain Agricultural value chain The agricultural value chain concept has been used since the beginning of the millennium, primarily by those working in agricultural development in developing countries. Although there is no universally accepted definition of the term, it normally refers to the whole range of goods and services necessary for an agricultural product to move from the farm to the final customer or consumer. The term value chain was first popularized in a book published in 1985 by Michael Porter, who used it to illustrate how companies could achieve what he called “competitive advantage” by adding value within their organization.

neg: Intermediate consumption 1980s to more than 40% today. Thus, intermediate consumption is an accounting flow which consists of the total monetary value of goods and services "consumed or used up as inputs in production" by enterprises, including raw materials, services and various other operating expenses. Because this value must be subtracted from gross output to arrive at GDP, how it is exactly defined and estimated will importantly affect the size of the GDP estimate. Intermediate goods or services used in production can be either changed in form (e.g. bulk sugar) or completely used up (e.g. electric power). Intermediate consumption (unlike fixed assets)

neg: Balance of trade Balance of trade The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain period. Sometimes a distinction is made between a balance of trade for goods versus one for services. "Balance of trade" can be a misleading term because trade measures a "flow" of exports and imports over a given period of time, rather than a "balance" of exports and imports at a given point in time. Also, balance of trade does not mean that exports and imports are "in balance"

neg: Balance of trade the nation's gross domestic product using the expenditure method of calculating gross domestic product (i.e. GDP), trade surpluses are contributions and trade deficits are "drags" upon their nation's GDP. Balance of trade The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain period. Sometimes a distinction is made between a balance of trade for goods versus one for services. "Balance of trade" can be a misleading term because trade measures a "flow" of exports and imports over a given period of

neg: Magic circle (virtual worlds) politics, and law." Virtual worlds usually contain their own currency. Thus, virtual goods and services have a certain monetary value associated with them. Moreover, many activities in these worlds require a certain degree of skill as well as commitment from the user, which adds to this value. The worth of goods and services, though, is not restricted to the virtual realm. While external markets, including eBay, sell content from synthetic worlds, virtual items gain importance in the outside world. As Castronova points out, "the existence of external markets makes every good inside the membrane just as real as the goods

neg: Commodity that they could trade goods and services for other goods and services. At this stage, these goods and services became "commodities." Commodities are defined as objects which are offered for sale or are "exchanged in a market." In the marketplace, where commodities are sold, "use value" is not helpful in facilitating the sale of commodities. Accordingly, in addition to having use value, commodities must have an "exchange value"—a value that could be expressed in the market. Prior to Marx, many economists debated as to what elements made up exchange value. Adam Smith maintained that exchange value was made up of

neg: Monetary transmission mechanism interest rates and the exchange rate, leading to changes in net exports Monetary policy affects stock prices, leading to changes in Tobin's q (the market value of firms divided by the replacement cost of capital) and investment Monetary policy affects stock prices, which affects financial wealth and consumption (consumer spending on nondurable goods and services) Monetary transmission mechanism The monetary transmission mechanism is the process by which asset prices and general economic conditions are affected as a result of monetary policy decisions. Such decisions are intended to influence the aggregate demand, interest rates, and amounts of money and credit in

neg: Monetary system banks print all the money, this is not reflective of what actually happens. Today's global monetary system is essentially a fiat system because people can use paper bills or bank balances to buy goods. Money Monetary system A monetary system is the set of institutions by which a government provides money in a country's economy. Modern monetary systems usually consist of the national treasury, the mint, the central banks and commercial banks. A commodity money system is a monetary system in which a commodity such as gold or silver is made the unit of value and physically used as money.

neg: Regulation of greenhouse gases under the Clean Air Act scarcity of such goods means there are no economic incentives to conserve them. In what is known as the "tragedy of the commons", rational individuals are motivated to over-utilize these resources for short-term economic gain despite the potential for collective action to deplete the resource or result in other adverse consequences in the long run. What this means for GHGs is that their effects on climate stability are often disregarded in economic analyses as "externalities". As a frequently used measure of a country's well being, the GDP, for example, places value on the goods and services produced within a country

neg: Complementary currency oil, services, etc.). A time-based currency is valued by the time required to perform a service in hours, notwithstanding the potential market value of the service. Another type of complementary monetary systems is the barter, an exchange of specific goods or services is performed without the use of any currency. In 1982, the most widespread auxiliary currency system, the Local Exchange Trading Systems, was created. It regulates the exchange of goods and services between the members of the cooperative. Examples for an investment system of complementary currency are the Automatic Social Financial Network (ASFN) and the international crowdsourcing and crowd-funding

neg: Second Life or creating their own character. It is based on their decisions on how to express themselves. Most avatars are human, but they can choose to be vampires or animals. Sometimes, what they choose does not relate to their offline selves. "Second Life" has an internal economy and closed-loop virtual token called the "Linden dollar (L$)". L$ can be used to buy, sell, rent or trade land or goods and services with other users. The "Linden Dollar" is a closed-loop virtual token for use only within the Second Life platform. Linden Dollars have no monetary value and are not redeemable for

neg: Value (marketing) and resources (financial ability), they demand products and services with benefits that add up to the most value and satisfaction. The four types of value include: "functional value", "monetary value", "social value", and "psychological value". The sources of value are not equally important to all consumers. How important a value is, depends on the consumer and the purchase. Values should always be defined through the "eyes" of the consumer. Functional Value: This type of value is what an offer does, it's the solution an offer provides to the customer. Monetary Value: This is where the function of the price paid

neg: Numéraire Numéraire The numéraire (or numeraire) is a basic standard by which value is computed. In mathematical economics it is a tradeable economic entity in terms of whose price the relative prices of all other tradeables are expressed. In a monetary economy, acting as the numéraire is one of the functions of money, to serve as a unit of account: to provide a common benchmark relative to which the worths of various goods and services are measured. Using a numeraire, whether monetary or some consumable good, facilitates value comparisons when only the relative prices are relevant, as in general equilibrium theory.

neg: Monetary economics value, origin, and regulation of money. Presumably because of the previous period of unreliable monetary value, he carefully examined the possible causes for money's value to fluctuate. The year following, 1752, "Of the Balance of Trade" was published by Hume. He argued that one need not worry about the import or export of goods creating a surplus or shortage of either money or goods, because an excess or shortage of money will always increase or decrease demand, until equilibrium is reached. In modern economic terms, this is as equilibration through the price-specie flow mechanism. Traditionally, research areas in monetary economics

neg: GDP deflator GDP deflator In economics, the GDP deflator (implicit price deflator) is a measure of the level of prices of all new, domestically produced, final goods and services in an economy. GDP stands for gross domestic product, the total monetary value of all final goods and services produced within the territory of a country over a particular period of time (quarterly or annually). Like the consumer price index (CPI), the GDP deflator is a measure of price inflation/deflation with respect to a specific base year; the GDP deflator of the base year itself is equal to 100. Unlike the CPI, the

neg: Anarchist economics exchange value itself, advocated a gift economy and to base distribution on need. Josiah Warren termed the phrase "Cost the limit of price", with "cost" here referring not to monetary price paid but the labor one exerted to produce an item. This understanding of cost is congruent with that of the classical economist Adam Smith who said: "The real price of every thing, what every thing really costs to the man who wants to acquire it, is the toil and trouble of acquiring it". However, Warren reached different conclusions as he believed that goods and services should trade according to

neg: Single market fails to improve its organization and methods, it will fail. The consequence may be unemployment or migration. Note: Every economic union and economic and monetary union includes a common market. A unified market is the economic term for a single market where goods, services, capital and people can move freely without regard to national boundaries. These "four freedoms" are implemented by, among other things, removal of tariffs on the transfer of goods and services among the member nations, imposition of uniform product standards, revision of laws to permit "market-wide" financial services, and the restructuring of most government procurement practices, so

neg: Environmental racism wastes and other environmentally hazardous goods through the justification that they are not willing (or able) to pay as much as a wealthier area for a clean environment. The placement of toxic wastes near poor people lowers the property value of already cheap land. Since the decrease in property value is less than that of a cleaner, wealthier area the monetary benefits to society are greater by dumping the toxic waste in a "low-value" area. Chavis defined the term as "racial discrimination in environmental policy making, the enforcement of regulations and laws, the deliberate targeting of communities of color for

neg: Taxation in Afghanistan were required to pay 10% on annual income over about $3,500 and 20% on income over about $27,000. No matter what kind of legal form the company has, all of them are required to pay a corporate tax of 20 percent. That, you can find in the 4th article of the Afghan Income Tax law. In 2014 the parliament of Afghanistan worked close to International Monetary Fund to raise the domestic revenues and therefor added a value-added tax (VAT) of 5 percent. Although, the existing law doesn’t include all goods and services (hotels are affected for example) but the government

neg: Goods and services tax (Australia) Goods and services tax (Australia) The goods and services tax (GST) in Australia is a value added tax of 10% on most goods and services sales, with some exemptions (such as for certain food, healthcare and housing items) and concessions (including qualifying long term accommodation which is taxed at an effective rate of 5.5%). GST is levied on most transactions in the production process, but is in many cases refunded to all parties in the chain of production other than the final consumer. The tax was introduced by the Howard Government and commenced on 1 July 2000, replacing the previous

neg: Countertrade Countertrade Countertrade means exchanging goods or services which are paid for, in whole or part, with other goods or services, rather than with money. A monetary valuation can however be used in countertrade for accounting purposes. In dealings between sovereign states, the term bilateral trade is used. There are six main variants of countertrade: Countertrade also occurs when countries lack sufficient hards currency, or when other types of market trade are impossible. In 2000, India and Iraq agreed on an "oil for wheat and rice" barter deal, subject to United Nations approval under Article 50 of the UN Persian Gulf

neg: Real bills doctrine financial security. One virtue of the backing version of the real bills doctrine is that there is no need for any "special" theory of money. The value of money is determined on exactly the same principles as any other financial security. Real bills doctrine In monetary economics the real bills doctrine refers to various theories in support of generally unrestricted issuing of 'real bills'. 'Real bills' represent transactions of real goods and services in the economy, or ones soon to be realised. They can be invoices for raw or wholesale goods to be paid to a supplier within a certain

neg: Countertrade including barter, as contrary to an open, free trading system and, in the long run, not in the interest of the U.S. business community. However, as a matter of policy the U.S. Government will not oppose U.S. companies' participation in countertrade arrangements unless such action could have a negative impact on national security". Countertrade Countertrade means exchanging goods or services which are paid for, in whole or part, with other goods or services, rather than with money. A monetary valuation can however be used in countertrade for accounting purposes. In dealings between sovereign states, the term bilateral trade is used.

neg: Political positions of Ron Paul Congress and the president would instead have to raise taxes or cut government services, either of which could be politically damaging to their reputations. He states that the "inflation tax" is a tax on the poor, because the Federal Reserve prints more money which subsidizes select industries, while poor people pay higher prices for goods as more money is placed in circulation. Paul adheres to Austrian School economics and libertarian criticism of fractional-reserve banking, opposing fiat currency and the monetary inflation. He views monetary inflation as an underhanded form of taxation, because it takes value away from the money that

neg: Nicholas Barbon distinction between the moral and economic aspects of purchasing. His views on interest were praised by Joseph Schumpeter. Barbon described as a "mistake" the standard view that interest is a monetary value, arguing that because money is typically borrowed to buy assets (goods and stock), the interest that is charged on the loan is a type of rent—"a payment for the use of goods". From this, Schumpeter extrapolated the argument that just as rent is the price paid for the use of what he called "unwrought stock, or the "natural agents" of [economic] production", interest is the price paid for

neg: Medium of exchange there are conflicting drivers of monetary policy, because a store of value can become more valuable if it is scarce in the marketplace. When the medium of exchange is scarce, traders will pay to rent it (interest), which acts as an impedance to trade and a net transfer of wealth from poor to rich. Fiat currencies' most important and essential function is to provide a 'measure of value'... Hifzur Rab has shown that the market measures or sets the real value of various goods and services using the medium of exchange as unit of measure i.e., standard or the yard

neg: Digital gold currency use of the digital currency for daily monetary transactions, even though most of their normal income and expenses are denominated in the national currency of their home country. Fluctuations in the value of gold against their national currency can create some confusion and difficulty for new users as they see the "value" of their DGC account fluctuate in terms of their native currency. In contrast to exchange risk, caused by gold's fluctuation against national currency, the purchasing power of gold (and therefore DGCs) is measured by its fluctuation against other commodities, goods and services. Since gold has historically been the

neg: Open economy services. The fourth term, X, is foreign spending on domestic goods and services(the value of exports). Since total domestic spending is a sum of spending on domestic as well as foreign goods and services, we can say that, We substitute these three equations into the identity above: Y = (C − Cf ) + (I − I f ) + (G − G f ) + X. We can rearrange to obtain The sum of domestic spending on foreign goods and services (Cf + I f + G f) is expenditure on imports (IM). We can thus write the national

neg: Economic expansion by factors internal to the economy, such as fiscal policies, monetary policies, the availability of credit, interest rates, regulatory policies or other impacts on producer incentives. Global conditions may influence the levels of economic activity in various countries. Economic contraction and expansion relate to the overall output of all goods and services, while the terms inflation and deflation refer to increasing and decreasing prices of commodities, goods and services in relation to the value of money. Expansion means enlarging the scale of a company. The ways of expansion include internal expansion and integration. Internal expansion means a company enlarges its

neg: Theory of value (economics) Theory of value (economics) A theory of value is any economic theory that attempts to explain the exchange value or price of goods and services. Key questions in economic theory include why goods and services are priced as they are, how the value of goods and services comes about, and—for normative value theories—how to calculate the "correct" price of goods and services (if such a value exists). A major question that has eluded economists since the earliest of publications was one of price. As commodities began to be exchanged for currency, economic thinkers have constantly been trying to decipher how

neg: Peter Kropotkin that should a society be socially, culturally, and industrially developed enough to produce all the goods and services required by it, then no obstacle, such as preferential distribution, pricing or monetary exchange will prevent everyone to take what they need from the social product. He supported the eventual abolition of money or tokens of exchange for goods and services. Kropotkin believed that Bakunin's collectivist economic model was simply a wage system by a different name, and that such a system would breed the same type of centralization and inequality as a capitalist wage system. He stated that it is impossible

neg: Value-form is theoretically wrong as stated, his theory can be modified such that, rather than value being created by co-operative human labour, value and abstract labour can be regarded as effects ("social forms") created by the exchange-process itself. Simply put, the value of goods is nothing more than the money they will exchange for, from which it seems to follow, that if money does not exist, value does not exist either. This interpretation is often called the monetary theory of value. Thus, Michael Heinrich claims that: Marx himself flatly denied this "monetary" interpretation of value when he said explicitly in chapter

neg: Monetary policy term. Since then, the target of 2% has become common for other major central banks, including the Federal Reserve (since January 2012) and Bank of Japan (since January 2013). There continues to be some debate about whether monetary policy can (or should) smooth business cycles. A central conjecture of Keynesian economics is that the central bank can stimulate aggregate demand in the short run, because a significant number of prices in the economy are fixed in the short run and firms will produce as many goods and services as are demanded (in the long run, however, money is neutral, as

neg: United Kingdom National Accounts – The Blue Book instruments are monetary gold and special drawing rights; currency and deposits; securities other than shares; loans; shares and other equity; insurance and pension funds reserves; and other accounts receivable/payable. Transactions can be grouped broadly according to purpose in the following accounts; the production account displays the transactions involved in the generation of income by the production of goods and services. For each of the four sectors (the rest of the world does not have a production account), the balancing item, gross value added, is shown as output less intermediate consumption. Gross value added at basic prices for each sector differs

neg: Theory of value (economics) prices are determined. “Value” was the general term assigned to indicate the relative price of a good or service. One of the earliest predecessors of classical views on value theory comes from a pamphlet that was published in 1738. In this pamphlet, it is discussed how labor is the most important measurement tool when considering value. This idea stemmed from pre-monetary views of price, where labor was exchanged for other labor services. While this was an accepted idea, it was not without its critics. Adam Smith agreed with certain aspects of labor theory of value, but believed it did not

neg: Service (economics) Smith’s famous book, "The Wealth of Nations", published in 1776, distinguished between the outputs of what he termed "productive" and "unproductive" labor. The former, he stated, produced goods that could be stored after production and subsequently exchanged for money or other items of value. The latter, however useful or necessary, created services that perished at the time of production and therefore did not contribute to wealth. Building on this theme, French economist Jean-Baptiste Say argued that production and consumption were inseparable in services, coining the term "immaterial products" to describe them. Most modern business theorists describe a continuum with pure

neg: Service (business) between the outputs of what he termed "productive" and "unproductive" labor. The former, he stated, produced goods that could be stored after production and subsequently exchanged for money or other items of value. The latter, however useful or necessary, created services that perished at the time of production and therefore did not contribute to wealth. Building on this theme, French economist Jean-Baptiste Say argued that production and consumption were inseparable in services, coining the term "immaterial products" to describe them. Most modern business theorists see a continuum with pure service on one terminal point and pure commodity good on the

neg: Real bills doctrine Real bills doctrine In monetary economics the real bills doctrine refers to various theories in support of generally unrestricted issuing of 'real bills'. 'Real bills' represent transactions of real goods and services in the economy, or ones soon to be realised. They can be invoices for raw or wholesale goods to be paid to a supplier within a certain time window, i.e. commercial paper. Thus, they allow a manufacturer or retailer time to receive income from the goods without the need for upfront payment (or the need to borrow from a bank). 'Real bills' can also refer to short term

neg: Use value the use-value of the goods and services in which they trade, since what matters to capitalists is just the money they make; whatever the buyer does with the goods and services produced is, so it seems, of no real concern. But this is arguably a misunderstanding of business activity and the bourgeoisie as a class. Marx thought that capitalists can never be totally "indifferent" to use-values, because inputs of sufficient quality (labour, materials, equipment) must be bought and managed to produce outputs that: For this purpose, the inputs in production must moreover be used in an economical way, and care

neg: Agricultural value chain as “value chain” work when the term came into vogue. Published definitions include the World Bank’s “the term ‘’value chain’’ describes the full range of value adding activities required to bring a product or service through the different phases of production, including procurement of raw materials and other inputs”, UNIDO’s “actors connected along a chain producing, transforming and bringing goods and services to end-consumers through a sequenced set of activities”, and CIAT’s “a strategic network among a number of business organizations”. Without a universal definition the term “value chain” is now being used to refer to a range of types

neg: Special collections Special collections In library science, special collections (Spec. Coll. or S.C.) are libraries or library units that house materials requiring specialized security and user services. Materials housed in special collections can be in any format (including rare books, manuscripts, photographs, archives, ephemera, and digital records), and are generally characterized by their artifactual or monetary value, physical format, uniqueness or rarity, and/or an institutional commitment to long-term preservation and access. They can also include association with important figures or institutions in history, culture, politics, sciences, or the arts. Individual libraries or archival institutions determine for themselves what constitute their own special

neg: Industry of Communist Czechoslovakia impressive. During the 1970s, Czechoslovakia had signed specialization and joint investment agreements with other Comecon members, committing the country to specific long-term obligations in particular production branches (machine tools and railroad locomotives, for example), partly to ensure the inflow of energy and raw materials. In 1985 the most important branches of industry in terms of the monetary value of their contribution to the economy were machinery, electrical engineering, metalworking, chemicals, asbestos, rubber, and ferrous metallurgy (including ore extraction). Important manufactured products were vehicles, railroad goods, aircraft, electrical goods, heavy machinery, and precision equipment. In the 1980s, Czechoslovakia was — except

neg: Money It thereby avoids the inefficiencies of a barter system, such as the "coincidence of wants" problem. Money's most important usage is as a method for comparing the values of dissimilar objects. A "unit of account" (in economics) is a standard numerical monetary unit of measurement of the market value of goods, services, and other transactions. Also known as a "measure" or "standard" of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements that involve debt. Money acts as a standard measure and common denomination of trade. It is thus a

neg: Economics contrasted with barter (non-monetary exchange). Given a diverse array of produced goods and specialized producers, barter may entail a hard-to-locate double coincidence of wants as to what is exchanged, say apples and a book. Money can reduce the transaction cost of exchange because of its ready acceptability. Then it is less costly for the seller to accept money in exchange, rather than what the buyer produces. At the level of an economy, theory and evidence are consistent with a positive relationship running from the total money supply to the nominal value of total output and to the general price level.

neg: Marxist feminism to secure their support; and legitimates the capitalist class's refusal to pay for the domestic labor assigned, unpaid, to women. In the capitalist system, two types of labor exist, a division stressed by Marxist feminists like Margaret Benston and Peggy Morton. The first is productive, in which the labor results in goods or services that have monetary value in the capitalist system and are thus compensated by the producers in the form of a paid wage. The second form of labor is reproductive, which is associated with the private sphere and involves anything that people have to do for themselves

neg: Reproductive labor a part of the labor force since before their incorporation into mainstream industry if we consider reproductive labor. The division between productive and unproductive labour is stressed by some Marxist feminists including Margaret Benston and Peggy Morton. These theories specify that while productive labor results in goods or services that have monetary value in the capitalist system and are thus compensated by the producers in the form of a paid wage, reproductive labor is associated with the private sphere and involves anything that people have to do for themselves that is not for the purposes of receiving a wage (i.e.

neg: Theory of value (economics) studies within economics. The topics included in marginalism are marginal utility, marginal rate of substitution, and opportunity costs. Marginalism can be applied to the subjective theory of value because the subjective theory takes into account the marginal utility of an item in order to put a value on it. Theory of value (economics) A theory of value is any economic theory that attempts to explain the exchange value or price of goods and services. Key questions in economic theory include why goods and services are priced as they are, how the value of goods and services comes about, and—for normative

neg: Value-added tax in the United Kingdom Value-added tax in the United Kingdom In the United Kingdom, the value-added tax (or value added tax, VAT) was introduced in 1973 and is the third-largest source of government revenue, after income tax and National Insurance. It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994. VAT is levied on most goods and services provided by registered businesses in the UK and some goods and services imported from outside the European Union. There are complex regulations for goods and services imported from "within" the EU. The default VAT rate is the standard

neg: Long Depression of only goods that benefited from improved methods of manufacturing and transportation. Goods produced by craftsmen and many services did not decrease in value, and the cost of labor actually increased. Also, deflation did not occur in countries that did not have modern manufacturing, transportation, and communications. Nobel laureate economist Milton Friedman, author of "A Monetary History of the United States", on the other hand, blamed this prolonged economic crisis on the imposition of a new gold standard, part of which he referred to by its traditional name, The Crime of 1873. This forced shift into a currency whose supply

neg: Friends of Hue Foundation is "improving the quality of life […] through supporting small business entrepreneurs". Reflecting this objective of the Arthur B. Schultz Foundation, Thriive offers a unique sort of microfinance that not only economically assists small businesses, but also encourages social responsibility. In this type of microfinance no monetary exchange actually takes place. Rather, capital is provided to small businesses in the form of manufacturing equipment. The value of the capital, in turn, is paid for in the form of goods or services to the local community instead of monetarily to the lending organization. As a result, the company can give back

neg: Economy Economy An economy (from Greek οίκος – "household" and νέμoμαι – "manage") is an area of the production, distribution, or trade, and consumption of goods and services by different agents. Understood in its broadest sense, 'The economy is defined as a social domain that emphasises the practices, discourses, and material expressions associated with the production, use, and management of resources'. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. However, monetary transactions only account for a

neg: Money store of value requires holding it without spending, whereas its role as a medium of exchange requires it to circulate. Others argue that storing of value is just deferral of the exchange, but does not diminish the fact that money is a medium of exchange that can be transported both across space and time. The term "financial capital" is a more general and inclusive term for all liquid instruments, whether or not they are a uniformly recognized tender. When money is used to intermediate the exchange of goods and services, it is performing a function as a "medium of exchange".

neg: Real wages Real wages Real wages are wages adjusted for inflation, or, equivalently, wages in terms of the amount of goods and services that can be bought. This term is used in contrast to nominal wages or unadjusted wages. Because it has been adjusted to account for changes in the prices of goods and services, real wages provide a clearer representation of an individual's wages in terms of what they can afford to buy with those wages – specifically, in terms of the amount of goods and services that can be bought. However, real wages suffer the disadvantage of not being well

neg: Shadow price weights equal to the Lagrange multipliers. Each constraint in an optimization problem has a shadow price or dual variable. Shadow pricing is frequently used to figure out the monetary values of intangibles and hard to quantify factors during cost-benefit analyses. In the context of public economics, shadow pricing is very useful for governments and policymakers to evaluate whether a public project should be pursued. This is because public goods are very rarely exchanged in the market, making it difficult to determine its price. To help determine the monetary value of these goods, these three tools are often used. Take the

neg: Theft of services Theft of services Theft of services is the legal term for a crime which is committed when a person obtains valuable services — as opposed to goods — by deception, force, threat or other unlawful means, i.e., without lawfully compensating the provider for these services. It may also overlap with some types of fraud in which payment is made on credit, but under an assumed identity, and ultimately disavowed ("identity theft"). Crimes of this sort are typically prosecuted as larceny, and may be either a misdemeanor or a felony, based upon the value of the services illegally obtained. This category

neg: Economic planning models of socialism, economic planning completely substitutes the market mechanism, supposedly rendering monetary relations and the price system obsolete. In other models, planning is utilized as a complement to markets. The classical conception of socialist economic planning held by Marxists involved an economic system where goods and services were valued, demanded and produced directly for their use-value, as opposed to being produced as a by-product of the pursuit of profit by business enterprises. This idea of "production for use" is a fundamental aspect of a socialist economy. This involves social control over the allocation of the surplus product and in

neg: Non-monetary economy Non-monetary economy The non-monetary economy represents work such as household labor, care giving and civic activity that does not have a monetary value but remains a vitally important part of the economy. While labor that results in monetary compensation is more highly valued than unpaid labor, nearly half of American productive work goes on outside of the market economy and is not represented in production measures such as the GDP. The non-monetary economy undertakes tasks that benefit society (whether through producing services, products, or making investments) that the monetary economy does not value. The non-monetary economy makes the labor market

neg: The Philosophy of Money was the scarcity, time, sacrifice, and difficulties involved in getting objects. In the pre-modern era, beginning with bartering, different systems of exchange for goods and services allowed for the existence of incomparable systems of value (land, food, honor, love, etc.). With the advent of a universal currency as an intermediary, these systems became reconcilable, as everything tended to become expressible in a single quantifiable metric: its monetary cost. Simmel's outlook, while gloomy, is not wholly negative. As money and transactions increase, the independence of an individual decreases as he or she is drawn into a holistic network of exchange governed

neg: Luxury goods example, making a perfume more expensive can increase its perceived value as a luxury good to such an extent that sales can go up, rather than down. Although the technical term luxury good is independent of the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quality and price. Classic luxury goods include haute couture clothing, accessories, and luggage. Many markets have a luxury segment including, for example, automobile, yacht, wine, bottled water, coffee, tea, foods, watches, clothes, jewelry, and high fidelity. Luxuries may be services. The hiring of full-time

neg: Labor theory of value when labor or its product is sold, in exchange, it ought to receive goods or services embodying "the amount of labor necessary to produce an article of exactly similar and equal utility". Mutualism originated from the writings of philosopher Pierre-Joseph Proudhon. Collectivist anarchism as defended by Mikhail Bakunin defended a form of labor theory of value when it advocated a system where "all necessaries for production are owned in common by the labour groups and the free communes ... based on the distribution of goods according to the labour contributed". Contrary to popular belief Marx never used the term "Labor

neg: Lean IT and deliver results quickly, implementing Lean IT is a continuing and long-term process that may take years before lean principles become intrinsic to an organization’s culture. As lean manufacturing has become more widely implemented, the extension of lean principles is beginning to spread to IT (and other service industries). Industry analysts have identified many similarities or analogues between IT and manufacturing. For example, whereas the manufacturing function manufactures goods of value to customers, the IT function “manufactures” business services of value to the parent organization and its customers. Similar to manufacturing, the development of business services entails resource management, demand

neg: Funeral Rule Services Selected. 5. Preservative and Protective Value Claims The Funeral Rule prohibits any representations to consumers that funeral goods or services will delay the natural decomposition of human remains for a long term or an indefinite time. The Funeral Rule prohibits representation that funeral goods such as caskets or outer burial containers have protective features or will protect the body from gravesite substances because that is not true. All warranty information must be provided to the family and it must be clarified by the funeral home that the claims made in the warranty are made by the manufacturer and not

neg: Return on event Return on event What is ROE (Return on event) and how is it used. Return on event (ROE) is a term used in event marketing, compared to rate of return ROR, also known as return on investment ROI, which is the ratio of money gained or lost on an investment. The initial value of an investment does not always have a clearly defined monetary value. In event marketing the purpose of an event can be awareness of a new product, trials, brand commitment, brand building, or combinations of these. Similarly, the final value of an investment does not always have

neg: Services marketing benefit the organisation and stake-holders. Services are (usually) intangible economic activities offered by one party to another. Often time-based, services performed bring about desired results to recipients, objects, or other assets for which purchasers have responsibility. In exchange for money, time, and effort, service customers expect value from access to goods, labor, professional skills, facilities , networks, and systems; but they do not normally take ownership of any of the physical elements involved. Scholars have long debated the nature of services. Some of the earliest attempts to define services focused on what makes them different from goods. Late-eighteenth and early-nineteenth

neg: Poverty in Mexico growth and improvements in others states, many have simply left seeking better opportunities. The reasons for poverty in Mexico are complex and widely extensive. There is a consensual agreement that a combination of uneven distribution of wealth and resources sponsored by economic and political agendas to favor the rich and powerful is a major contributor to the millions left behind. In the economic sense, access to insufficient monetary means to afford goods and services becomes the immediate reason to be poor. Because a person's personal income dictates what he or she can afford and what he or she will remain

neg: Gross domestic product The OECD defines GDP as "an aggregate measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs)." An IMF publication states that "GDP measures the monetary value of final goods and services—that are bought by the final user—produced in a country in a given period of time (say a quarter or a year)." Total GDP can also be broken down into the contribution of each industry or sector of the economy. The

neg: World economy World economy The world economy or global economy is the economy of the world, considered as the international exchange of goods and services that is expressed in monetary units of account. In some contexts, the two terms are distinguished: the "international" or "global economy" being measured separately and distinguished from national economies while the "world economy" is simply an aggregate of the separate countries' measurements. Beyond the minimum standard concerning value in production, use and exchange the definitions, representations, models and valuations of the world economy vary widely. It is inseparable from the geography and ecology of Earth. It is

neg: Externality overall cost and benefit to society is defined as the sum of the imputed monetary value of benefits and costs to all parties involved. Thus, unregulated markets in goods or services with significant externalities generate prices that do not reflect the full social cost or benefit of their transactions; such markets are, therefore inefficient. Two British economists are credited with having initiated the formal study of externalities, or "spillover effects": Henry Sidgwick (1838–1900) is credited with first articulating, and Arthur C. Pigou (1877–1959) is credited with formalizing the concept of externalities. A negative externality is any difference between the private

neg: Databank Systems Limited economy, including banking deregulation. Since Databank essentially owned the New Zealand payments system, which was operated through and by Databank, the existing clearing systems had to be opened up to new banks entering the market, to provide what was referred to as a "level playing field". By 1988, Databank had become an increasingly large operational cost for the banks, who questioned whether they were continuing to receive value for money. A 1989 legal decision, that inter-company transactions (i.e., between Databank and the consortium members) must carry Goods and Services Tax meant that the long-term cost-effectiveness of Databank was no longer

neg: Economic calculation problem the capital structure of industry. Ludwig von Mises gave the example of choosing between producing wine or oil: Such intermediate products would include land, warehouse storage, bottles, barrels, oil, transport, etc. Not only would these things have to be assembled, but they would have to compete with the attainment of other economic goals. Without pricing for capital goods, essentially, Mises is arguing, it is impossible to know what their rational/most efficient use is. Investment is particularly impossible, as the potential future outputs cannot be measured by any current standard, let alone a monetary one required for economic calculation. The value

neg: Economy of the State of Palestine Palestine a viable independent state. The PA and Palestinian Monetary Authority abandoned the idea of an independent Palestine pound in 2011. Taxation in the Palestinian territories is a complex system which may involve payment to the Palestinian Authority (PA) and/or Israel. In 2005 the PA collected approximately $34 million per month from taxes and other charges, while Israel collected about $75 million per month in tariffs on foreign imports and value added taxes (VAT) on Israeli goods and services and on average retained about $15 million for the payment of water and power bills of Palestinians, while forwarding the other

neg: Quantity theory of money Mises agreed that there was a core of truth in the quantity theory, but criticized its focus on the supply of money without adequately explaining the demand for money. He said the theory "fails to explain the mechanism of variations in the value of money". Quantity theory of money In monetary economics, the quantity theory of money (QTM) states that the general price level of goods and services is directly proportional to the amount of money in circulation, or money supply. The theory was challenged by Keynesian economics, but updated and reinvigorated by the monetarist school of economics. While mainstream

neg: Value-added tax proposed tax would favour domestically produced goods as they would be taxed less than imports, to a degree varying across sectors. For example, the wage component of the cost of domestically produced goods would not be taxed. General: Value-added tax A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally, based on the increase in value of a product or service at each stage of production or distribution. VAT essentially compensates for the shared services and infrastructure provided in a certain locality by a state and

neg: Marginal cost of public funds Marginal cost of public funds The marginal cost of public funds (MCF) is a concept in public finance which measures the loss incurred by society in raising additional revenues to finance government spending due to the distortion of resource allocation caused by taxation. Formally, it is defined as the ratio of the marginal value of a monetary unit raised by the government and the value of that marginal private monetary unit. The applications of the marginal cost of public funds include the Samuelson condition for the optimal provision of public goods and the optimal corrective taxation of externalities in public

neg: Monetary-disequilibrium theory the equilibrating function of the interest rates in the capital market. Two important points regarding monetary-equilibrium needs to be stated. Firstly, there is no necessary relationship between monetary and general equilibrium. It is totally compatible with disequilibria in various markets for goods and services. Secondly, monetary- equilibrium can be seen as a desirable policy goal by monetary regimes. The concept of monetary-equilibrium is basically a European one. Much of the work on this doctrine has been done by Swedish, British and Austrian economists. The whole approach begins with the work of Knut Wicksell in the development of the concepts of

neg: Gross domestic product Gross domestic product Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually or quarterly. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.

neg: Measures of national income and output nation and also restrict the goods and services that are counted. For instance, some measures count only goods & services that are exchanged for money, excluding bartered goods, while other measures may attempt to include bartered goods by "imputing" monetary values to them. Arriving at a figure for the total production of goods and services in a large region like a country entails a large amount of data-collection and calculation. Although some attempts were made to estimate national incomes as long ago as the 17th century, the systematic keeping of national accounts, of which these figures are a part, only

neg: Goods but often refer to marketable raw materials and primary products. Although in economic theory all goods are considered tangible, in reality certain classes of goods, such as information, only take intangible forms. For example, among other goods an apple is a tangible object, while news belongs to an intangible class of goods and can be perceived only by means of an instrument such as print or television. Goods may increase or decrease their utility directly or indirectly and may be described as having marginal utility. Some things are useful, but not scarce enough to have monetary value, such as the

neg: Value-added tax Value-added tax A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally, based on the increase in value of a product or service at each stage of production or distribution. VAT essentially compensates for the shared services and infrastructure provided in a certain locality by a state and funded by its taxpayers that were used in the elaboration of that product or service. Not all localities require VAT to be charged and goods and services for export may be exempted (duty free). VAT is usually implemented

neg: Taxation in Israel Value-added tax (VAT) in Israel, is applied to most goods and services, including imported goods and services. As of 1 October 2015, the standard was lowered to 17%, from 18%. Beforehand, it was raised to 18% from 17% on 2 June 2013, which it stood at after being raised from 16% on 1 September 2012. Certain items are zero-rated like exported goods and the provision of certain services to nonresidents. The value of imported goods, for VAT purposes, includes the customs duty, purchase tax and other levies. Multinational companies that provide services to Israel through the Internet, such as Google

neg: Labour power are purchased by the worker with money from a salary, can be affected by numerous circumstances. If, for example, the state imposes a tax on consumer goods and services (an indirect tax or consumption tax such as value-added tax or goods and services tax, then what the worker can buy with his wage-money is reduced. Or, if price inflation increases, then again the worker can buy less with his wage money. The point is that this can occur quite "independently" of how much a worker is actually paid. Therefore, the "standard of living" of a worker can rise or fall

neg: Services marketing offers the promise of a unified marketing theory": To date, marketing research and practice have failed to integrate the traditional goods/services dichotomy. Some efforts have been made to get product accepted as a joint term for goods and services and to use offering, package or solution as all inclusive, concepts for what consumers the buys, but this has not been successful. Service-dominant logic, however, promises a truly unified framework. For many academics, this is the most exciting implication. It is highly likely that the 4 Ps, as the central marketing framework, is about to come to a close. "Compete Through

neg: Social return on investment found it to be a useful tool for organizational learning. While in financial management the term ROI refers to a single ratio, unlike Social Earnings Ratio (S/E Ratio), SROI analysis does not refer not to one single ratio but more to a way of reporting on value creation. It bases the assessment of value in part on the perception and experience of stakeholders, finds indicators of what has changed and tells the story of this change and, where possible, uses monetary values for these indicators. It is an emerging management discipline: a skill set for the measurement and communication of

neg: Positive Development The term ‘ecosystem services’ generally applies only to human benefits, which are usually valued by units (e.g. money, carbon or energy. PD uses the term ‘eco-services’ to include not only nature’s instrumental (pragmatic) values like ecosystem goods and services, but its intrinsic (priceless) and ‘biophilic’ values. PD considers the value of nature to be ‘infinite’ as it is not only the basis of the economy, but essential to human existence itself. To counteract the ecological footprint of existing development, ‘surplus’ natural and social capital - assessed from fixed biophysical baselines - must be created both off-site and on-site by design.

neg: Metallism Metallism Metallism is the economic principle that the value of money derives from the purchasing power of the commodity upon which it is based. The currency in a metallist monetary system may be made from the commodity itself (commodity money) or use tokens such as national banknotes redeemable in that commodity. The term was coined by Georg Friedrich Knapp to describe monetary systems using coin minted in silver, gold or other metals. In metallist economic theory, the value of the currency derives from the market value of the commodity upon which it is based independent of its monetary role. Carl

neg: Renewable energy commercialization costs of providing goods or services into prices, it does not value nature's services adequately, and it does not respect the sustainable-yield thresholds of natural systems". It also favors the near term over the long term, thereby showing limited concern for future generations. Tax and subsidy shifting can help overcome these problems, though is also problematic to combine different international normative regimes regulating this issue. Tax shifting has been widely discussed and endorsed by economists. It involves lowering income taxes while raising levies on environmentally destructive activities, in order to create a more responsive market. For example, a tax on

neg: Gross domestic product Republic of China, and Russia, inflate their GDP figures. In response to these and other limitations of using GDP, alternative approaches have emerged. Gross domestic product Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually or quarterly. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using