Final answer:
Wealth consists of physical and material objects that a person owns outright, such as a house, land, art, rare coins or stamps. These items can be bought and sold, contributing to an individual's wealth.
Step-by-step explanation:
Wealth is the accumulation of all those products that are scarce, tangible and transferable from one person to another. It includes physical and material objects that a person owns outright, such as a house, land, art, rare coins or stamps. These items can be bought and sold, contributing to an individual's wealth.