What concept does 'values' refer to in a sociological context?

In a sociological context, the term 'values' refers to established beliefs that guide behavior and decision-making. Values are fundamental principles that individuals and groups hold, shaping their attitudes, preferences, and actions within society. These collective beliefs can influence everything from personal choices to societal norms and laws, serving as a framework for evaluating what is considered right or wrong, important or unimportant within a culture.

For instance, in many societies, values such as honesty, respect, and equality play significant roles in how people interact with one another and form social institutions. This contrasts with individual opinions, which may vary significantly from person to person and are not necessarily rooted in broader societal beliefs. Financial worth pertains specifically to the economic value of goods or services, while theoretical frameworks are more abstract constructs used by sociologists to analyze and interpret social phenomena, rather than the guiding principles that directly influence individual or collective behavior.