Wealth is the abundance of valuable resources or valuable material possessions.

This includes the core meaning as held in the originating old English word weal, which is from an Indo-European word stem.

An individual, community, region or country that possesses an abundance of such possessions or resources to the benefit of the common good is known as wealthy.

Economic policy refers to the actions that governments take in the economic field.

It covers the systems for setting levels of taxation, government budgets, the money supply and interest rates as well as the labor market, national ownership, and many other areas of government interventions into the economy.

The degree of labour market flexibility is the speed with which labour markets adapt to fluctuations and changes in society, the economy or production.

Education is the process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits.

Educational methods include storytelling, discussion, teaching, training, and directed research.

Education frequently takes place under the guidance of educators, but learners may also educate themselves.

Education can take place in formal or informal settings and any experience that has a formative effect on the way one thinks, feels, or acts may be considered educational.

The methodology of teaching is called pedagogy.

Though the actual definitions vary between jurisdictions, in general, a direct tax is a tax imposed upon a person or property as distinct from a tax imposed upon a transaction, which is described as an indirect tax.

The term may be used in economic and political analyses, but does not itself have any legal implications.

However, in the United States, the term has special constitutional significance because of a provision in the U.S. Constitution that direct taxes imposed by the national government be apportioned among the states on the basis of population.

In the European Union direct taxation remains the sole responsibility of member states.