Market value refers to the price at which an asset, such as a stock, real estate, or business, can be bought or sold in a competitive marketplace. It is determined by the supply and demand for that asset, reflecting what buyers are willing to pay and what sellers are willing to accept. Market value can fluctuate over time due to various factors, including economic conditions, investor sentiment, and changes in the asset's underlying fundamentals. It is an important concept for investors and analysts as it helps assess the worth of an asset compared to its intrinsic value or book value.