Principles or standards of behavior is the best definition of the term values. Values are principles, standards that an individual/group of people hold in high regard (something that we hold dear, those qualities which we consider to be of worth). They are formed by a particular belief that is related to the worth of an idea or type of behavior. Their purpose is to guide the way we live our lives and the decisions we make (they can influence many of the judgments we make). Honesty, justice, and generosity are some examples of values.