To the economist a stock of goods existing at a a particular time and conforming to certain requirements such as having utility, money value and being limit...
Question 1 Report
To the economist a stock of goods existing at a a particular time and conforming to certain requirements such as having utility, money value and being limited in supply , is known as
Answer Details
To the economist, a stock of goods existing at a particular time that possesses certain attributes like having utility (usefulness), money value, and limited supply is called "wealth." Wealth includes tangible assets like money, land, buildings, and personal property like vehicles, furniture, and equipment. It also includes intangible assets like stocks, bonds, and intellectual property. Wealth is important in economics because it is the basis for economic activity and growth. It is used to generate income, invest in new ventures, and to acquire goods and services.
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