There are several grassland products the economic values of those are unclear in several cases. Besides demonstrating the social benefits of grassland products, the objective of the present study is to present the value of their diverse forms of utilization and their definitions in practice. The study groups marketable and nonmarketable grass products and introduces a new category, the animal husbandry value of grasses. Besides several other factors, economists differ from researchers in other areas of science since they are basically motivated by three issues: the first question they always raise is: “What can it be used for?”, the second is: “What is it worth?” and the third is: “How can it (its value) be determined?” All the answers to any further questions are subordinated to these three ones.