Cycle 3, Project Plan - How Do We Assign Intrinsic Values to Materials and Objects?

Hey everyone,

Today I was inspired by my brother, who questioned why gold is so expensive, although not that useful. I would like to look at what properties influence the "value" of something, and how many of these properties are somewhat imaginary (like "coolness"). 

Here's what I want to research over the next few weeks:

Round 1 - The Origins of Currency and Value/How Value Impacts Perception
-
When we started using currency, how it evolved over time
-The origins of value and when we began putting a price on things
-Bartering system vs money system
-If something is valued at a higher price, do we perceive it as higher quality?

Round 2 - How Companies Place Value on Goods/Services
-
How do companies decide on the price of their goods?
-How do people price their services? What makes one service more valuable than another?
-What makes one good more valuable than another?
-How vastly does profit impact the price that a company places on a good/service?
-Does the uniqueness of a product impact its price? How vastly?
-Accessibility and price

Round 3 - Usability and its Impact On Price
-Look into examples like gold (with little value outside of being a currency) and lumber (with important uses) and how their usability relates to their pricing
-Are there some things that cannot have a price placed on them?
-Are there things we pay for that should be free? Are there free things that should be paid for? Are there really things that cannot be bought?

 

Sources to Look to:
https://www.sbcgold.com/blog/t...-of-gold-and-silver/
https://www.slideshare.net/Wil...lue-of-wood-antiques
https://www.youtube.com/watch?v=Cv54JPN1Ks4
https://hbr.org/1998/11/busine...what-customers-value
https://daringtolivefully.com/things-money-cant-buy
https://mgrconsultinggroup.com...art-of-astroturfing/

I will be posting on a biweekly basis, and I am excited to start my research

Original Post

Hey Joanna, 

This is a really neat and unique topic you are looking into. It would be very cool to find out the ways the price of goods could be impacted due to other things, for example, gas is really expensive right now, and many of these goods are transported one way or another. This could be affecting the prices of these goods because now companies have to pay more to transport them to stores, factories etc. Just a thought! Good luck on your research! 

Hey Joanna! 

A good question to ask, I can't wait to read more. 

Pretty cool to know that it was a family member of yours that inspired you, as any good inspiration can come from anywhere really. The project plan was super easy to read and understand.

Funny enough, plastic/paper sheets are worth enough to trade procedures to save lives in hospitals. 

A interesting POV to come in with your topic is economy, here are some links to some websites that talk about it, with specific factors that can influence other aspects as well. 

https://www.frbsf.org/educatio...ices-impact-economy/

https://www.investopedia.com/a...nd-affect-prices.asp

https://opentextbc.ca/principl...consumption-choices/

Keep it up! 
~Jim
CA
CBSS

Hey Joanna!

It's amazing that you got your inspiration from your brother, first of all. This is an awesome topic because I feel that people constantly question this without fully paying attention to the meaning behind it, a dropped thought as I say. 

We are constantly moving up in this financial, or perceptual, world  and no one stops long enough to figure out why we keep moving higher on this scale. 

Perhaps you can look at how our world could function is a non-financial based government and  community. 

I'm excited to follow your work and see where this topic takes you!

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