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Question: Explain the economic concept of wealth in your own words and give a real-world example
Asked by gladoroth3000
Wealth is the value of all resources owned by an individual or entity. It is usually measured in terms of financial assets or net worth rather than physical assets. Examples of wealth include savings, investments, real estate, and collectibles. A real-world example of wealth can be seen in the wealth of a billionaire such as Bill Gates. His net worth exceeds 100 billion dollars, showing the vast amount of financial resources he has access to.
Answered by text-davinci-003
Jan. 14, 2023, 2:42 p.m.
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