The value of any ___ in our numbering system is determined by the position it occupies with a particular number.

In our numbering system, a digit is a fundamental element that represents a numerical value. The value of a digit is influenced by its position within a number; this is known as place value. For instance, in the number 345, the digit 3 has a value of 300 because it occupies the hundreds place, the digit 4 represents 40 as it is in the tens place, and the digit 5 stands for 5 in the ones place.

The concept of place value is crucial for understanding how numbers are structured and how we interpret them in everyday scenarios. Each position denotes a different level of value based on powers of ten, which is a foundational concept in our decimal numbering system. Hence, the correctness of identifying a digit highlights its significance in determining value depending on its positional context.