DEFINITION of 'Perceived Value'. The worth that a product or service has in the mind of the consumer. The consumer's perceived value of a good or service affects the price that he or she is willing to pay for it. For the most part, consumers are unaware of the true cost of production for the products they buy.
A pound of butter divided into 4 sticks, or quarters, equals 4 sticks, or quarters of 4 ounces each. 4 ounces times 4 equals 16 ounces, or 1 pound. That given, one stick of butter is equal to 4 ounces.
A pound of butter is 16 ounces. There are four (4) sticks of butter in a pound. Therefore, a stick of butter is equal to four (4) ounces.