Asset

Question

I looked up the word 'asset' in my dictionary and it said: 'a single item of ownership having exchange value'

I understand everything in the definition except where it says 'exchange value'. Why the need to mention that?! I mean virtually everything in the world that exists has 'exchange value' so what's the point of metioning this when it comes to 'asset'?

Mister Micawber · Accepted Answer

Not everything has exchange value.  Ever try to sell a peanut shell?

Clive · Answer

Hi,

I looked up the word 'asset' in my dictionary and it said: 'a single item of ownership having exchange value'

I understand everything in the definition except where it says 'exchange value'. Why the need to mention that?! I mean virtually everything in the world that exists has 'exchange value' so what's the point of metioning this when it comes to 'asset'?

I suppose the writer just wanted to add emhasis to the point.

But don't you think there are some things that no-one would want to buy?

eg Would you consider a nuclear power-plant with a huge radioactive leak an asset?

eg How about a barrel of highly toxic chemical sludge?

Would you argue that there are no such things as liabilities?

Clive

Asset

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