Acquisition of Wealth and Resources

Definition

The acquisition of wealth and resources involves obtaining valuable assets such as gold, silver, oil, fertile land etc., often through trade, conquest or exploration.

Analogy

Consider this like playing Monopoly. You acquire properties (resources) with money (wealth), aiming for strategic spots on the board that will give you an advantage over other players.

Related terms

Mercantilism: An economic theory where colonies exist for the benefit of mother countries; it’s like parents using their children’s piggy bank savings for their own needs.

Capitalism: An economic system based on private ownership where wealth is created through investment aimed at profit; think about starting your own lemonade stand to make money.

Exploitation: The act of using resources or people for one's own advantage; it’s like using your friend's notes to study for a test without giving them credit.