Creation of wealth
Natural resources
Human resources - labour, and potentials
Man-made resources - capital, and machinery.
Adam Smith saw wealth creation as the combination of materials, labour, land, and technology in such a way as to capture a profit (excess above the cost of production). From Wikipedia, the free encyclopedia.
What are the Resources of Wealth
The main resources of wealth are the natural resources and human resource.
Natural resources comprise of all mineral resources and other endowments of nature - aquatics, forest, and wild lives etc.
Human resources
Skills mean the refined, process, or developed potentials of man.
Potentials are the undiscovered, untapped, dormant, and undeveloped abilities and talents of man.
Creation of Wealth
Creation of wealth is the amalgamation and processing of all factors of production. Creation of wealth is mainly the processing of natural resources with man skills. It is a conscious process towards acquisition of wealth. Acquisition of wealth is not amassing of wealth. Acquisition of wealth is a possession of a portion of wealth, while amassing of wealth is a gradual building or accumulating of wealth.
Creation and acquisition of wealth by person starts from the processing and maximizing of the potentials of the person and so it is with any nation. The level of maximization of the individual potentials will equally determine the size of wealth to be acquired. There is no unit of wealth that exists independence of natural resources and human resources - skills and potentials
Resources Wealth, and Individual endowed Wealth.
Creation of wealth is a function of the resources wealth and the efficiency of endowed wealth that are available.
What is Wealth?
Now, wealth is the net worth of person; the endowed quality of man.
Wealth is the abundant supply of natural resources of a nation and or the natural endowment of man determined by the nature. Wealth is the processed resources of a nation. It is the processed abilities, potentials, and amassed skills of man. It is a versatile pool of knowledge, and the intelligence of man.By monetary term, wealth is Assets less Expenses. It will be an error to take income for wealth. Income is just a worth or measure of productivity within a period of time. As far as individual wealth goes, incoming money is just an aspect of wealth, since expenses are first deducted before wealth can be determined. Whatever economic value is left over after all liabilities are deducted is the true economic value, or wealth. 1999-2010 eHow, Inc.
'Wealth' refers to some accumulation of resources, whether abundant or not. 'Richness' refers to an abundance of such resources. A wealthy (or rich) individual, community, or nation thus has more resources than a poor one. Richness can also refer to at least basic needs being met with abundance widely shared. From Wikipedia, the free encyclopedia.
Distribution of Wealth
Distribution of wealth is primarily determined by the nature from the creation. Wealth distribution however gets more sophisticated as the countries of world realise and maximize their natural resources. The sophisticated systems or processes of distributions determine the acquisition of wealth
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