Final answer:
Wealth refers to the sum of the value of all assets, including money in bank accounts, financial investments, a pension fund, and the value of a home. It represents the accumulation of scarce, tangible, and transferable products.
Step-by-step explanation:
Wealth refers to the sum of the value of all assets, including money in bank accounts, financial investments, a pension fund, and the value of a home. It represents the accumulation of scarce, tangible, and transferable products. For example, a nation's wealth can be determined by the resources, material goods, and skills of its people.