Place value is the value of each digit in a number.
For example, the 5 in 350 represents 5 tens, or 50;
however, the 5 in 5,006 represents 5 thousands, or 5,000.
It is important that children understand that whilst a digit can be the same,
its value depends on where it is in the number.
Children will most likely be taught place value through a place value grid like this
Millions, Hundred Thousands, Ten Thousands, Thousands, Hundreds, Tens, Ones,
tenths, hundredths, and so on.
https://thirdspacelearning.com/blog/...lue-explained/