ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The principles and standards upon which we lead our lives. They are influenced by our beliefs, our background, education, and our individual and wider social networks. Some of our personal ideas can originate from prejudice, myths and assumptions.

Detailed explanation-2: -Values are stable long-lasting beliefs about what is important to a person. They become standards by which people order their lives and make their choices. A belief will develop into a value when the person’s commitment to it grows and they see it as being important.

Detailed explanation-3: -Beliefs are our assumptions about the world. Values are how we attribute worth to objects and behaviors. Beliefs stem from our life experiences, spiritual learnings, and culture. Our beliefs heavily influence our values.

Detailed explanation-4: -Personal values are personal beliefs about right and wrong and may or may not be considered moral. Cultural values are values accepted by religions or societies and reflect what is important in each context. Values are essential to ethics. Ethics is concerned with human actions, and the choice of those actions.

Detailed explanation-5: -People’s values, beliefs and attitudes are formed and bonded over time through the influences of family, friends, society and life experiences. So, by the time you’re an adult, you can hold very definite views on just about everything with a sense of “no one is going to change my mind”.