◥ University. {q} PhD. ⏫ THEMES. ⏫ Value. ⚫ UK. ⚫ England. ⬤ London. WikiMindMap. ✊ Harvey (2009) Value added. The difference between input value and market value Definition[edit] In microeconomics, value added may be defined as the market value of aggregate output of a transformation process, minus the market value of aggregate input (or aggregate inputs) of a transformation process. One may describe value added with the help of Ulbo de Sitter's design theory for production synergies. He divides transformation processes into two categories, parts and aspects. Parts can be compared to timeline stages, such as first preparing the dish, then washing it, then drying it. In macroeconomics, the term refers to the contribution of the factors of production (i.e. capital and labor) to raise the value of the product and increase the income of those who own the said factors.
National accounts[edit] The factors of production provide "services" which raise the unit price of a product (X) relative to the cost per unit of intermediate goods used up in the production of X. Value added tax[edit] See also[edit] Time value of money. Conjecture that there is greater benefit to receiving a sum of money now rather than later The time value of money refers to the fact that there is normally a greater benefit to receiving a sum of money now rather than an identical sum later. It may be seen as an implication of the later-developed concept of time preference. The time value of money refers to the observation that it is better to receive money sooner than later. Money you have today can be invested to earn a positive rate of return, producing more money tomorrow. Therefore, a dollar today is worth more than a dollar in the future.[1] The Talmud (~500 CE) recognizes the time value of money.
In Tractate Makkos page 3a the Talmud discusses a case where witnesses falsely claimed that the term of a loan was 30 days when it was actually 10 years. The notion was later described by Martín de Azpilcueta (1491–1586) of the School of Salamanca. to be received in one year is discounted at the rate of interest [edit] Where i ≠ g : Notes: . Value for Money - Analytic Quality Glossary - Quality Research International.
Value for money core definition Value for money assesses the cost of a product or service against the quality of provision. explanatory context Value for money tends to be equated with value for money expended, although it could take into account ‘real’ cost including hidden costs and opportunity costs. Value for money is one definition of quality that judges the quality of provision, processes or outcomes against the monetary cost of making the provision, undertaking the process or achieving the outcomes. analytical review According to the University of Cambridge (2010), 'Value for money' (VFM) is a term used to assess whether or not an organisation has obtained the maximum benefit from the goods and services it both acquires and provides, within the resources available to it.
Erlendsson (2002) states: He goes on to add: Some elements may be subjective, difficult to measure, intangible and misunderstood. Value for money is one definition of quality (Harvey & Green, 1993): associated issues Top.