Values are defined as your fundamental and basics beliefs that guide your actions. They are the things that are most important to us. For example, you can value honesty. You believe being saying what you really think is important and being honest all the time matters. If you don’t speak your honesty, you may feel negative emotions as it relates to going against what you value.
For individuals, values are beliefs about what is important, desirable, and worthwhile, which often influence decisions. These values can be different from one person to another.
Cultural values are the prevailing beliefs and value systems of a given society passed on through social conditioning and enculturation. These can be beliefs around religion taught to you by your parents.
A value judgment is a process of reasoning to a conclusion using facts and values for purposes of determining worth, quality, importance, fairness, and credibility.
A value system is a set of criteria, standards, or principles that guide an individual or group’s behavior and provides a sense of direction to life. You may value frugality and therefore limit buying luxury goods. Using frugality as a principle may help you make value judgments.