Question

expain characteristics of wealth ​

Answer 1

Answer:

WEALTH - DEFINITION

WEALTH - DEFINITIONWealth is defined as, "Anything which is useful, directly or indirectly, for satisfying human wants." According to J. M. Keynes, "All that have got value are called wealth." In economic sense all those goods which have value are termed as wealth. Thus, all the goods having value-in-exchange are included in wealth. Moreover, wealth may be either in the form of material things, like agriculture material, machinery, household things, etc. or may be in the form of of non-material things like the service of doctor or an engineer or goodwill of a businessman or as copyright of books, ete.

Answer 2

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1. wealth must have a satisfy a need
2. wealth must have money value
3. wealth may be external ( good will of the company )
4. wealth should be transfer from one person to another
5. wealth must be limited in supply.

⭐more info :

in economic wealth is referred as scare goods which satisfy our needs and money.

classification of wealth:

1. personal wealth
2. social wealth
3. national wealth
4. cosmoplation wealth.

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