1 Jan 1840 Jahr - Subjective theory of value is the idea that an object's value is not inherent and is instead worth more to different people based on how much they desire or need the object. The subjective theory of value places value on how scarce and useful an item is, rather than basing the value of the object on how many resources and man hours went into creating it.
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1 Jan 1840 Jahr
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~ 185 years ago