How are subjective values defined?

Subjective values are best defined as those values that are based on personal beliefs, feelings, and opinions, rather than objective measures. This means that when subjective values are assessed, they often involve an estimate or guess that reflects an individual's or a group's preferences, perceptions, or emotional responses rather than a quantifiable or standardized metric.

In contrast, other options refer to values that are determined through more objective or consensus-based approaches. For instance, market price is a reflection of objective market conditions and supply and demand, while values validated through objective measures rely on empirical data and factual results. Majority opinion reflects a collective viewpoint, which is typically not unique to one individual but rather a consensus, and thus does not align with the personal aspect of subjectivity.

Therefore, recognizing subjective values as estimates or guesses allows for a greater understanding of how personal perceptions influence value assessments in various contexts, such as in decision-making processes in accounting or economics.