Minimal value refers to the lowest possible worth or significance of an item, concept, or situation. It is often used in economics and finance to describe the least amount that something can be valued at, whether in terms of money, utility, or importance. Understanding minimal value helps individuals and businesses make informed decisions about investments and resource allocation. In various contexts, such as mathematics or statistics, minimal value can also refer to the smallest number in a set or the lowest point in a function. Identifying minimal values is crucial for optimization problems, where the goal is to minimize costs or maximize efficiency.