State the main features of wealth definition of economics.

1.	State the main features of wealth definition of economics.
Answer» The main features of wealth definition of economics are: 1. Study of Wealth : Economics is the study of wealth only. The main object of economics is to examine how people earn wealth and spend wealth. 2. Causes of Wealth : Economics seek to examine causes which lead to increase in wealth. Wealth can be increased by its production and accumulation. 3. Economic Man : The wealth definition of economics takes the notion of economic man who is aware of his self-interest. The economic man tries to achieve his self-interest by increasing his material gains through acquisition of wealth.

Answer»

The main features of wealth definition of economics are:

1. Study of Wealth : Economics is the study of wealth only. The main object of economics is to examine how people earn wealth and spend wealth.

2. Causes of Wealth : Economics seek to examine causes which lead to increase in wealth. Wealth can be increased by its production and accumulation.

3. Economic Man : The wealth definition of economics takes the notion of economic man who is aware of his self-interest. The economic man tries to achieve his self-interest by increasing his material gains through acquisition of wealth.

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