Explain the concept of wealth

Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts. Essentially, wealth is the accumulation of scarce resources

Explanation:

john smith was the first englishman to sail around the world. francis bacon served as attorney general and lord chancellor of england. he took up aristotelian ideas, arguing for an empirical, inductive approach, known as the scientific method, which is the foundation of modern scientific inquiry.