Question

Q.4. Answer the following:
1) Explain the features of wealth.
2) Explain the characteristics of human wants.​

Answer 1

Answer:

The features of wealth are as follows: Utility: The commodities that have the capacity to satisfy human wants are included in wealth. ... Scarcity: The commodities Which are limited (scarce) in supply in relation to their demand are included in wealth. For example, all economic goods for Which prices are paid are wealth.

2. Though human wants are unlimited and all cannot be satisfied at a time, but one particular want is satiable. It can be satisfied sooner or later, if one tries for it and he has the resources to satisfy it. For example, a person may feel hungry or thirsty. This want may be satisfied by taking some food or water.

Hope it helps u

Answer 2

Answer:

thanks.......................