Wealth

Helpful for Commerce Students

1. FUNDAMENTALS OF BUSINESS ECONOMICS { CC 103 } B.COM SEM -I

2. UNIT-I BASIC CONCEPTS AND DEFINITIONS

3. Wealth

4. Meaning of wealth Wealth consists of all those goods and services which posses utility, scarcity, transferability and which can be appropriated. -Prof. Marshall

5. Characteristics of wealth Utility Scarcity Transferability Eternal to Man

6. Classification of wealth Personal or individual wealth Social wealth or Collective wealth National wealth

7. Wealth and income Wealth is a ‘fund’ or ‘stock of resources’ or assets owned by an individual or the community out of which the income accrues or is paid. Thus ,income is a ‘flow’ of utility or satisfaction derived from wealth per unit of time- say, per week , per month or per year. Income as such is regarded as ‘flow’ from the ‘fund’ of wealth.

8. Wealth and Money Money is a commodity and forms only a part of the entire stock of wealth. It is a representative wealth. Only a part of an individual wealth is help as money although it can all be converted into money. Thus, while all money is wealth ,but all wealth need not necessarily be money.

9. Wealth and Welfare Nature of the wealth produced Manner of wealth produced The Use to which wealth is put Distribution of wealth

10. THANK YOU Prepared by Dr.Jagdish Maheshwari Assistant Professor, Tolani Institute of Commerce,Adipur