&gt;How can it be intrinsic if it&#x27;s determined by external factors like supply and demand?<p>Well it depends on how you interpret the word intrinsic. You were inquiring about how written law could influence value, I was responding by saying value isn&#x27;t determined by some made up law written by humans, it&#x27;s determined by laws intrinsic to economics: The law of supply and demand.<p>&gt;And if value is determined by cost,<p>When did I say value is determined by cost? Cost is only an indirect contributor. Value itself is determined by supply and demand.<p>&gt;how come people still want it when it&#x27;s free?<p>If something is free, it doesn&#x27;t change how much people want the product. Value does not influence Demand. It is the otherway around: Supply and demand influence value. Thus whether I charge a billion dollars or zero dollars for the oxygen you breath, you&#x27;ll still want it as much as you did before regardless of the value.