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 refers to the stock of all goods (and services) that have utility, are scarce, and are transferable. These goods are valuable because they can satisfy human wants. A commodity is a single, undifferentiated good. Value is a measure of worth, but wealth is the collection of all such valuable items.