[tom kelly]

The value of almost anything is determined by the demand for it. In neoclassical economics the value of an object or service is often seen as nothing but price it would bring on the open market which is a competitive market. Neoclassical Economic Theory equate the Value of a commodity with its price, whether the market is competitive or not. Therefore, everything is seen as a commodity and if there is no market to set a price then there is no economic value. There are many economic theories that discuss this subject,value vs. worth. The Classical Theory of Economics,The labor value of theory, Karl Marx (Erscheinungsform), value is separate from exchange value, it is meaningless without a market. Value in itr most basic sense can be referred to as "Real Value" or "Actual Value" This is the measure of worth that is based purely on the utility derived from the consumption of a product or service. Utility Derived Value allows products ( Yarborough Knives )tobe measured on outcome instead of supply and demand. No single unit has a fixed value unless it is unique such as Yarborough 1, The knife presented to Lt.General William P. Yarborough. Tom Kelly