Meaning of the word "good value" in English

What does "good value" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

good value

US /ɡʊd ˈvæl.juː/
UK /ɡʊd ˈvæl.juː/

Phrase

something that is worth the money spent on it, or that offers a good return for the effort invested

Example:
This restaurant offers really good value for money.
Buying in bulk is often good value.