Economic subjectivism

Economic subjectivism is all about how we make decisions about what products or services are worth. It means that we each have different ideas of what something is worth, depending on our own preferences and needs. For example, one person might really like an expensive phone, but someone else might think it's a waste of money and would rather buy something cheaper. That's because our values and needs can be different, so what makes the phone worth buying for one person, may not make it worth buying for another person.