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Understanding value
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* Indicates required question
We make value judgments based on the inherent properties of a good
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True
False
Products can satisfy different needs and therefore value is multifaceted
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True
False
Value is objectively determined by factors such as the amount of time and effort it takes to create something
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True
False
We make value judgements based on consuming one extra unit
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True
False
Products only serve a single need and therefore value is one dimensional
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True
False
Value is subjectively determined based on the extent to which it satisfies consumers' needs
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True
False
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