Definition of use value in US English:

use value

noun

Economics
  • (Now chiefly in Marxist theory): the value of a product or commodity as determined by its utility to the society in which it exists, as opposed to its value when traded or the quantity of other commodities for which it can be traded.

Origin

Mid 19th century; earliest use found in Thomas De Quincey (1785–1859), essayist.