Cost-of-production theory of value
（重定向自Cost of production theory of value）
![A supply and demand diagram illustrating taxes' effect on prices.](/Images/godic/202501/06/Tax_supply_and_demand.svg1824.png")
In economics, the cost-of-production theory of value is the theory that the price of an object or condition is determined by the sum of the cost of the resources that went into making it. The cost can comprise any of the factors of production (including labor, capital, or land) and taxation.