explain the features of wealth
Answers
It helps to maintain the social status of the person.
It helps to assist the military of the country.
It satisfies all the wants of the person.
It had removed all the limitations of barter and thus increases marketability.
Wealth - Wealth in an economical manner is said to be the total amount of assets ( tangible and non-tangible ) own by a person, firm or nation excluding all the debts.
It can be described as the total amount of resources.
For example - Goodwill, patent, Brandname, etc.
Features are 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 economic 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 be transferred to the people, organization 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 organization to support them financially.
Wealth also possesses the money value of itself. Wealth is made of the resource which is the main asset that can be cash in short or long terms. Therefore, Wealth creates its money value.
Wealth can be tangible or intangible. Due to the nature of the assets involved by the owner, business or the nation.