Wealth

Wealth

Wealth (/wɛlθ/) is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating old English word weal, which is from an Indo-European word stem.

Etymology

The term wealth is derived from the old English word "weal", which means "well-being" or "welfare". The term was originally an adjective but was used as a noun in Old English.

Definition

In economics, wealth refers to the net worth of a person, company, or nation, i.e., the value of all assets owned net of all liabilities owed at a point in time. For national wealth as measured in the national accounts, the net liabilities are those owed to the rest of the world.

Related Terms

• Asset: Any valuable item or property owned by a person or entity.
• Liability: The legal debts or obligations that arise during the course of business operations.
• Net Worth: The amount by which assets exceed liabilities.
• Economics: The social science that studies the production, distribution, and consumption of goods and services.
• Financial Asset: A non-physical asset whose value is derived from a contractual claim, such as bank deposits, bonds, and stocks.
• Transaction: An agreement, communication, or movement carried out between separate entities or objects, often involving the exchange of items of value, such as information, goods, services, and money.

See Also

• Wealth Management
• Wealth Tax
• Wealth Effect
• Wealth Concentration

References

External links

• Medical encyclopedia article on Wealth
• Wikipedia's article - Wealth

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