Advertisements
Advertisements
Question
Which of the following is not considered wealth?
Options
Property
Stocks
Ornaments
Skills of a person
MCQ
Advertisements
Solution
Skills of a person
Explanation:
Skills of a person are not considered wealth because wealth is defined as the stock of all transferable goods that have utility, value and transferability.
Property, stocks and ornaments are tangible or financial assets that can be owned and transferred.
Skills, however, are personal attributes or talents that are not transferable in the way goods or financial assets are.
While skills contribute to a person’s wealth in terms of earning ability, they themselves are not classified as wealth in economic terms.
shaalaa.com
Is there an error in this question or solution?
