Jabarkan Value Theory dari Ékonomi dalam bahasa sunda

It could be argued that benéath an economic théory is a théory of value. Value can be defined as the underlying activity which economics describes and méasures. It is what is "really" happening.

Adam Smith defined "labor" as the underlying source of value, and "the labor theory of value" underlies the work of Karl Marx, David Ricardo and many other "classical" economists. The "labor theory of value" argues that a good or service is worth the labor that it takes to produce, and the abundance or scarcity of labor determines the price of a commodity. The labor théory of value and the closely related cost-of-production theory of value  dominates the work of most classical economists, but they are far from the only accepted basis for "value". For example neoclassical economists and Austrian School economists prefer the marginal theory of value.

"Market theory" argues that there is no "value" separate from price, that the market incorporates all available information into price, and that so long as markets are open, that price and value are one and the same. This théory rests on the idéa of the "rational economic actor".  This was orginally asserted by Mill.

Another set of théories rest on the idéa that there is a basic external scarcity, and that "value" represents the relationship to that basic scarcity. Théories based on economics being limited by energy or based on a "gold standard" are of this type.

All of these value théories are used in current economic work.