Question

In economics, all those goods that satisfy human wants constitute

• A. Wealth
• B. Value
• C. Commodity
• D. Supply

Hint:

Wealth isn't just money. In economics, it's the total collection of all useful, scarce, and transferable things that satisfy our wants.

Answer 1

The Correct Option is A

In economics, wealth constitutes the total amount of useful, scarce, and transferable goods and services. These items hold value due to their ability to fulfill human desires. A commodity represents a single, uniform good. While value quantifies worth, wealth encompasses the entirety of valuable possessions.