What Is The Meaning Of Wealth, How Many Types Of Wealth, What Is Commercial Wealth, What Is Non-Commercial Wealth, True Definition Of Wealth
Wealth
Wealth refers to gold, silver, coins, money, jewelry, furniture, and other material goods in common parlance. But wealth in economics refers to everything that can directly or indirectly satisfy human needs. In this sense, the mother's love and patriotism will also be called wealth. The primary meaning of the old English name for "weal," from where wealth name originates, was "welfare" or well-being.
How Many Types Of Wealth?
- Commercial Wealth: The wealth that can be bought and sold. It can be any material thing. It can be labor, effort, and skill. It can be any kind of right or reputation because all these material and immaterial things can be bought and sold.
- Non-commercial Wealth: A mother's love can bring great comfort to her children, but it cannot be bought or sold. Similarly, patriotism is national wealth but not for sale.
How Many Types Of Commercial Wealth?
- Personal wealth:- It comprises all the property of a person.
- National wealth:- It is the country's total wealth, such as bridges, roads, forests, factories, farms, rivers, and other resources.
- International wealth:- The commonwealth of the entire world. For example, the sea, the atmosphere, the holy scriptures, etc.
- Potential wealth:- The hidden treasures of nature that can be discovered and used with effort. For example, mines that have not yet been discovered.
- Negative wealth:- The debts that the country or people owe.
Other Types Of Wealth Which Has Nothing To Do With Money
It is important not to live a day when you are wealthy in money but wrong in other things you value more. Genuine wealth is not just money. Money is just an object to give you the resources to purchase. Money can not make you entirely happy without physical wealth, social wealth, time wealth, and values wealth. Although it can help you seek happiness.
