Objective theory of value

Alright kiddo, let me explain the objective theory of value in simple terms. It's a way of thinking about how we decide what something is worth.

Let's say you really like cake. You might think a cake is worth a lot because it's delicious and brings you happiness. But someone who doesn't like cake might not think it's worth as much.

The objective theory of value says that the value of something is determined by its usefulness and how much effort it takes to create. Basically, something is worth what it's worth, regardless of whether or not you like it.

Think of it like this: if you have two toys, one is made of paper and the other is made of plastic. Even though you might like the paper toy more, the plastic toy may be worth more because it's more durable and might have taken more effort to make.

So basically, the objective theory of value is a way to determine the worth of something based on its usefulness and how much work it takes to make. It doesn't matter if you personally like it or not, it's all about objective criteria.