explain the qualities of wealth
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Do unto one side of the equation, what you do to the other!
An equation is like a balance scale. If we put something on, or take something off of one side, the scale (or equation) is unbalanced. When solving math equations, we must always keep the 'scale' (or equation) balanced so that both sides are ALWAYS equal
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Thus utility, scarcity and transferability are the important characteristics of wealth. Because an economic good possesses utility and is scarce in relation to demand and is capable of being transferred from one person to another, it has money value and so it is considered as wealth.
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