Can economic value be called monetary value?
No.

Explanation:
While economic value and monetary value are related concepts, they are not synonymous. Economic value refers to the worth or utility that a good or service has in satisfying human wants and needs. It encompasses both the tangible and intangible benefits that individuals derive from consuming or using a product.

On the other hand, monetary value specifically refers to the value of a good or service as expressed in terms of money. It represents the price or amount of money that individuals are willing to pay to acquire or use a particular product. Monetary value is often used as a measure of economic value, but it does not capture the full range of benefits or costs associated with a product.

Key Points:
- Economic value is a broader concept that includes both tangible and intangible benefits, while monetary value focuses solely on the value expressed in terms of money.
- Economic value takes into account factors such as utility, satisfaction, and overall well-being, whereas monetary value is limited to the price or monetary worth.
- While economic value can be measured in a variety of ways, including through monetary value, it also considers non-monetary factors such as environmental impact, social value, and cultural significance.
- Economic value is subjective and can vary from person to person, whereas monetary value is more objective and can be quantified using monetary units.
- Economic value is a fundamental concept in economics that helps analyze consumer behavior, market demand, and resource allocation, while monetary value is a more specific measure used in pricing and financial transactions.

In conclusion, while economic value and monetary value are related, they are distinct concepts. Economic value encompasses a broader range of factors, including both tangible and intangible benefits, while monetary value refers specifically to the value expressed in terms of money.