Statements related to wealth :
a) Wealth means anything which has market valueand can be exchanged for money.
b) It is external to human being.
c) Wealth has no utility.
d) Wealth is scarce and exchangeable.
ans:
1) a, b and d
2) a, c and d
3) b, c and d
4) None of the above
Answers
Answer:
In the given options, the correct answer is option 1.
According to option 1, a, b and d are correct statements.
Explanation:
Wealth is something which indicates abundant value.
This value has the ability of being exchanged against various goods and services.
Wealth is actually scarce in nature because wealth is available in a small commodity and everyone wants it. It is exchangeable as well.
Wealth is not something which can be exchanged for money though. Because wealth does not need to be exchanged for money.
Answer:
The option 1) is correct.
Explanation:
The option 1 is correct i.e a,b, and d.
Because wealth means anything which has market value and can be exchanged for money and also it is external to human beings.
Wealth is scarce and exchangeable in sense that it is concentrated in few hands and may scarce for others.
The option c may not be true, because in some context, wealth or money has utilities or in others it has not.