Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. what exactly do we mean by the term wealth? why is

What exactly do we mean by the term WEALTH? Why is it important?

60.1K

Verified Solution

Question

Finance

What exactly do we mean by the term WEALTH? Whyis it important?

Answer & Explanation Solved by verified expert
4.3 Ratings (747 Votes)
In financial termswealth basically means the value of all resources put together that is owned by a person or a society in general However in a broad sense it can be said that wealth is a state of mind if an individual thinks he is wealthy he is and if he think he is not he is not It is    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

What exactly do we mean by the term WEALTH? Whyis it important?

Other questions asked by students

Q

Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes) Income Statement Balance Sheet   Sales $ 45,700   Assets $ 21,900   Debt $ 5,900   Costs 40,100   Equity 16,000     Net...

Finance
Q

14 All children and adults in your program should OA wear gloves at all times...

Biology
Q

Find the total area of the shaded regions 6 RE 16 x 16x U COB...

Geometry
Q

A Ferris wheel is 10 meters in diameter and boarded from a platform that is...

Basic Math
Q

A company surveyed 32 male employees on their weight and the number of hours they...

Statistics
Q

Find the derivative of f(x)==- 4?x6x4Type your answer without fractional or negative exponents. Use sqrt(x)...

Calculus
Q

Divide 15x 12x 30x 24 by 5x 4 Provide your answer below

Calculus
Q

Treasury Circular 230 governs the practice of tax professionals before the IRS. Do you see...

Accounting
Q

Explain the 4 levels of organisational strategy that exist within an organisation such...

Accounting
Q

Wichita Industries' sales are 20% for cash and 80% on credit. Credit sales are collected...

Accounting
Q

Record the following transactions in the appropriate special journals or general journal for the month...

Accounting
Q

LG2 LG3 LG4 LG5 LG6 P10-28 All techniques with NPV profile: Mutually exclusive projects Projects...

Accounting