Intrinsic theory of value

The intrinsic theory of value is about understanding how valuable something is. It suggests that an object or thing has a certain value to it just because it exists, not because it can be exchanged for something else. For example, a wool blanket might be very comfortable because it is soft and warm, even if nobody else wants to buy it from you. The blanket is valuable (or has ‘intrinsic value’) just because of how it makes you feel, not because it can be exchanged for money.