Can you elaborate this?

Question

1) wealth is the position of utility

2) wealth must be material and external to man

3) wealth must be scarce

4) utility exist because of human wants

Answer 1

1) wealth is the position of utility

Wealth gives power to purchase or acquire and use/ consume things that give satisfaction to an individual or group . Since satisfaction is another name of utility, wealth is the power to enjoy or derive utlity.

2) wealth must be material and external to man

In economics, wealth is not which you get through mediation or mere thinking or dreaming. Wealth is in some physical form like monjey, land, building, cars, shares of companies, other forms of property, investments or jwery that one owns or availble for use by a group . So wealth is not like person's knowledge or beauti which is within / internal to man, but is an external thing that gives usage value or the ower to acquire usafe vale.

3) wealth must be scarce

If things are available in plenty and anyone can acquire as mich as one wants without affecting the possession of wealth of others, they are unlimited in supply  and has no scarcity value. So, unless a thing is scare it cannot have a value. To be a wealth, the thing must be scare like gold is scare, land is limited, buildings are limited, financxial instrunmeb\nts are available in limited quantities to acquire and available free for anyone and everyone for as much quantities as one would wish.

4) utility exist because of human wants

Unless humans have wants, they would not try to fulfill their wants. The extent to which a commodity or service fulfils someone's wants, determines how much utility ot satisfaction on derives from the use or consumption of that thing. Thus only when there is a want and the want is being fulifilled to some extent or other, satisfaction or utility may be said to have been derived.

Answer 2

The New World Goverment in Germania.