ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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wealth.
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income.
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money.
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credit.
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Detailed explanation-1: -(a) Wealth is the total collection of pieces of property that are a store of value.
Detailed explanation-2: -Store of wealth refers to the ability of an asset to preserve its value over time. Money, property, and gold are examples. When we save these assets, we can transfer our current wealth to the future. They contrast to perishable goods, which are a poor store of value because of the tendency for spoilage.
Detailed explanation-3: -What Is Wealth? Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts. Essentially, wealth is the accumulation of scarce resources.
Detailed explanation-4: -Since money can transfer purchasing power from one period to another, it is suited to store value. For example, people maintain value when they hold money in their wallets until they want to exchange it for goods or services.