Business Environment, 1st Edition by Pearson

| 8 | Part I: Fundamental Concepts

melodious voice possesses great utility. Such a voice is

certainly scarce, but can he transfer it to somebody else? Per-

sonal qualities such as health, intelligence and acting ability

cannot be termed as wealth because they cannot be transferred.

They cannot be separated from those who possess them. They

are “sources” of wealth. Of course, making use of his fi ne

voice, a singer can earn plenty of money.

All the three characteristics described above must be taken together.

If either of these features is missing, the thing cannot be called

wealth.

Wealth may not be always visible. It need not be a tangible

object all the time. Non-material things may be regarded as wealth.

The best example is the goodwill ...