source : yahoo.com
The resources that contribute to the creation of wealth are known as:?
Please prove me mathematically how can you create wealth. In double entry bookkeeping for every debit there should be credit of like amount. Assets should equal liabilities. I ask you, can you create debit without credit? Is double entry bookkeeping wrong?
We can add 5a and 3a. Answer is 8a. We can subtract 5a from 8a. Yes. Can we add 3a and 3b? Can we add 3kilometers and 5 hours? Can we subtract 4kilograms from 5 kilometer? If a is wealth and b is non-wealth, we can not add or subtract non-wealth to or from wealth. In simple words only wealth can be added to wealth and only wealth can be subtracted from wealth. This means that wealth (like mass and energy) can neither be created nor be destroyed but can be changed from one form to another. This is called Law of Conservation. Law of Conservation is the cause and Law of Equilibrium is the effect. The two laws together rule the universe. They are responsible for every law of every sciene.
Generally economist say wealth is created when a form of wealth that has value in use is changed into a form of wealth that has value in exchange. Example is photosynthesis. Here, carbon dioxide, soil moisture in the presence of chlorophyll using solar energy produce food. Carbon dioxide, soil moisture, chlorophyll and sunlight have value in use but they do not have value in exchange. Food has value in exchange. Scientifically this is not creation but value addition. In this meaning the answer to your question is factors of production i.e. land, labor, capital and entrepreneurship.
When wealth that has value in exchange is changed into wealth that has value in use we call it as consumption.
Source(s): My book titled “Nature, propertiesand laws of wealth” University Press of America Publication.
BUS Ch. 1 Flashcards | Quizlet – The resources that contribute to the creation of wealth are known as _____. In order to create more wealth and provide better services, some nations recognize that _____. producing goods and services using the least amount of resources. In today's competitive environment, good value means:Creation of a restaurant, airplane, or apartment building (physical capital) all represent a contribution to a nation's wealth in that they all generate a future stream of income based on the willingness of the members of that nation to purchase food services, transportation services, or housing services to satisfy specific wants.Human-made resources, also known as capital or capital resources, is material wealth created by humans that can be used to create more wealth. Examples include money, factories, roads, and…
The Creation of Wealth – Digital Economist – creation of wealth through which "From a public perspective, local economic development involves the allocation of limited resources- land, labor, capital and entrepreneurship in a way that has positive effect on the level of business activity, employment, income distributionWikipedia defines wealth as the abundance of valuable resources or material possessions, basically this means that you are considered wealthy if you have a lot of something that others value. What Wikipedia and many other sites don't tend to tell you about wealth creation is how to get these things .A. contribute to welfare of society B. seek to earn a profit the resources that contribute to the creation of wealth are known as: A. production coefficients B. factors of production B. producing goods and services using the least amount of resources
The resources that contribute to the creation of wealth – Wealth is created by a business organization that provides a unique value to its environment by adding more value to its outputs than the cost of all resources used to produce those outputs. Wealth requires a uniqueness and efficiency. If the offering is unique, and efficiently produced, wealth is the result.Question: The resources that contribute to the creation of wealth are known as _____.Ethics contribute to shareholder wealth in a very huge manner. With proper ethics, it will lead to customer satisfaction which will increase the sales and cash flow which are the main components