GK
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Total of all the things you own that have a value, or could create money for you in the future
|
|
|
Money a company or an individual can keep, after all expenses have been paid
|
|
|
The total amount of money a business or individual brings in
|
|
|
satisfaction or usefulness obtained from acquiring one more unit of a product
|
Detailed explanation-1: -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-2: -In economics, wealth refers to those goods which satisfy human wants. Those goods which are relatively scarce and have money value are termed as wealth.
Detailed explanation-3: -What is wealth creation? Wealth creation refers to building wealth through a variety of methods using financial products. When you invest in financial products for a long period, you get back higher returns.
Detailed explanation-4: -Net worth is the sum of your assets (such as your cash savings, investments, and value of your home) minus the sum of your debts. In other words, it’s what you own minus what you owe.