Which of the following best describes a scheme where individuals pay for a chance to win a value?

The description of a scheme where individuals pay for a chance to win a value most accurately aligns with a lottery. A lottery typically involves participants purchasing tickets, with the understanding that by doing so, they may win prizes through a random drawing. This structure implies an element of chance and a financial transaction, as participants are paying for the opportunity to potentially win something of greater value.

In contrast, a giveaway generally involves no purchase requirement; people enter for free, which does not fit the description of having to pay. A competition may involve tasks or challenges that participants must complete to win, often based on skill or effort rather than chance and usually does not necessitate payment for entry. A survey, while it might reward participants with incentives, primarily aims to gather information rather than providing a chance to win a value through the payment of a fee. Thus, the term "lottery" encapsulates the specific criteria of paying for a chance to win a value accurately.