n. & v.
--n.
1. the worth, desirability, or utility of a thing, or the qualities on which these depend (the value of regular exercise).
2 worth as estimated; valuation (set a high value on my time).
3 the amount of money or goods for which a thing can be exchanged in the open market; purchasing power.
4 the equivalent of a thing; what represents or is represented by or may be substituted for a thing (paid them the value of their lost property).
5 (in full value for money) something well worth the money spent.
6 the ability of a thing to serve a purpose or cause an effect (news value; nuisance value).
7 (in pl.) one's principles or standards; one's judgement of what is valuable or important in life.
8 Mus. the duration of the sound signified by a note.
9 Math. the amount denoted by an algebraic term or expression.
10 (foll. by of) a the meaning (of a word etc.). b the quality (of a spoken sound).
11 the relative rank or importance of a playing-card, chess-piece, etc., according to the rules of the game.
12 the relation of one part of a picture to others in respect of light and shade; the part being characterized by a particular tone.
13 Physics & Chem. the numerical measure of a quantity or a number denoting magnitude on some conventional scale (the value of gravity at the equator).
--v.tr. (values, valued, valuing)
1. estimate the value of; appraise (esp. professionally) (valued the property at {pound}200,000).
2 have a high or specified opinion of; attach importance to (a valued friend).
Phrases and idioms:
value added tax a tax on the amount by which the value of an article has been increased at each stage of its production. value judgement a subjective estimate of quality etc. value received money or its equivalent given for a bill of exchange.
Etymology: ME f. OF, fem. past part. of valoir be worth f. L valere