Final answer:
The unique value an individual places on a particular outcome is called subjective worth. Subjective worth is the personal evaluation and importance that an individual attaches to a specific outcome or experience.
Step-by-step explanation:
The unique value an individual places on a particular outcome is called Subjective Worth. Subjective worth refers to the personal evaluation and importance that an individual attaches to a specific outcome or experience. It is subjective because it is based on personal preferences, desires, and priorities.
For example, one person may highly value owning a luxury car, considering it to be of great subjective worth, while another person may prioritize financial security and view investing in a house as having higher subjective worth.
Understanding the concept of subjective worth is important in economics and decision-making processes, as it helps individuals and businesses assess the value they place on different outcomes and make choices that align with their personal preferences and goals.