Question

Which of the following is merit of Wealth Definition?

• A. It highlighted an important problem faced by each and every nation of the world, namely creation of wealth.
• B. The problems of poverty, unemployment etc. can be solved to a greater extent when wealth is produced and is distributed equitably.
• C. Neither (A) nor (B)
• D. Both (A) and (B)

Answer 1

The correct option is D Both (A) and (B)

Wealth definition is telling us about the ways by which the wealth of the nation is increase. This is the main merit of this definition, which helps in growth of economic condition of a country. It also tells about the causes by which the wealth is increase. Some merits are: creation of wealth, problem of poverty, unemployment & equal distribution of wealth.