• Well-being

    • IN GENERAL

      With reference to a person or community: the state of being healthy, happy, or prosperous; physical, psychological, or moral welfare.

    Practice & Source: (1) Generic: Oxford Living Dictionaries
  • Willingness to accept

    • IN ECONOMICS

      The amount that someone is willing to receive or accept to give up a good or service.

  • Willingness to pay

    • IN ECONOMICS

      The amount that someone is willing to give up or pay to acquire a good or service.

  • Worth (Noun)

    • IN GENERAL

      (a) Equivalent in value to the sum or item specified. b) Sufficiently good, important, or interesting to be treated or regarded in the way specified.

    • IN EVALUATING

      The value to a stakeholder, an institution or a collective by contrast with intrinsic value.

    Commentary

    Different sectors use “worth” in different ways. In finance, “net worth” is the amount by which the financial value of assets exceed liabilities. In economics, “worth” is a market concept defined by the amount for which something can be sold. In evaluation, “worth” refers to the value placed on the subject of the evaluation by one or more stakeholders so that worth estimates are influenced by the interests and the values of individual stakeholders. In business, comparable “worth” refers to jobs that require comparable abilities, knowledge and skills entitling employees to the same remuneration irrespective of age, gender, race, etc.