explain the features of wealth
Answers
Answer:
Wealth - Wealth in economical manner is said to be be the total amount of assest ( tangible and non-tangible ) own by a person, firm or nation excluding all the debts.
It can be discribed as the total amount of resources.
For example - Goodwill,bPatent, Brandname etc.
Featue is Wealth -
It has the potential to satisfy the want of the owner. Wealth is the resource which can be used to accomplish the financial and economical need of the person, business or the nation. It is the result of the financial year of the business and can assist the status.
It can easily transferred to the people, organisation or institute. It is the surplus amount of the business year of the frim which the individual or group can use to self need or to donate the non-profit organisation to support them financially.
Wealth also possess the money value of itself. Wealth is made of the resource which are mainly assest which can be cash in short or long terms. Therefore, Wealth creates it own money value.
Wealth can be tangible or intangible. Due to the nature of the assest involved by the owner, business or the nation.