Which condition must be fulfilled for a good to be deemed valuable?

For a good to be deemed valuable, it is essential that it is available for private ownership. This condition emphasizes the principle that value is often derived from the potential for individuals or companies to possess and control a good. In an economic context, private ownership not only establishes a legal claim over the good but also allows for its exchange in a marketplace, which can further enhance its perceived and real value.

When individuals or entities can own a good, they are motivated to maintain, trade, or use it, which contributes to its overall value in the economy. On the other hand, if a good is restricted from private ownership, its marketability and the personal incentive to invest in or maintain it can diminish, potentially leading to a lower valuation.

The other conditions do not necessarily confer inherent value to a good. For instance, an abundant supply might indicate a lower value due to saturation in the market rather than enhancing it. High demand irrespective of quality could skew perceptions of worth, but true value typically accounts for both demand and quality. Furthermore, government regulation of pricing can disrupt natural market forces, thereby complicating the assessment of a good's value rather than confirming it.