This document discusses the fundamentals of business economics, including definitions and classifications of wealth. Wealth consists of goods and services that possess utility, scarcity, transferability, and can be appropriated. Wealth can be classified as personal, social, or national. Wealth is also distinguished from income - wealth is a stock of resources that generates income as a flow over time. Additionally, money represents only a portion of total wealth, as not all wealth is in the form of money. The nature, manner of production, use, and distribution of wealth also impact social welfare.

1. FUNDAMENTALS OF BUSINESS
ECONOMICS
{CC 103}
B.COMSEM-I

4. Meaning of wealth
•Wealth consists of all those goods and services
which posses utility, scarcity, transferability and
which can be appropriated.
-Prof. Marshall

5. Characteristics of wealth
•Utility
•Scarcity
•Transferability
•Eternal to Man

6. Classification of wealth
•Personal or individual wealth
•Social wealth or Collective wealth
•National wealth

7. Wealth and income
•Wealth is a ‘fund’ or ‘stock of resources’ or
assets owned by an individual or the
community out of which the income accrues
or is paid. Thus ,income is a ‘flow’ of utility
or satisfaction derived from wealth per unit
of time- say, per week , per month or per
year. Income as such is regarded as ‘flow’
from the ‘fund’ of wealth.

8. Wealth and Money
•Money is a commodity and forms only a
part of the entire stock of wealth. It is a
representative wealth. Only a part of an
individual wealth is help as money although
it can all be converted into money. Thus,
while all money is wealth ,but all wealth
need not necessarily be money.

9. Wealth and Welfare
•Nature of the wealth produced
•Manner of wealth produced
•The Use to which wealth is put
•Distribution of wealth

10. THANKYOU
Prepared by
Dr.Jagdish Maheshwari
Assistant Professor,
Tolani Institute of Commerce,Adipur