Assets
Definition
Assets are physical objects for which there is demand, on which property rights can be established and the ownership of which can be transferred from one institutional unit to another via transactions on markets. They are in demand because they may be used to meet the needs of households or of the community, or to produce other assets or services.
The production and exchange of assets are completely separate activities. Certain assets can never be exchanged, whereas others can be purchased and sold several times. The separation of the production of an asset from its subsequent sale or resale is an economically significant characteristic of an asset that is not shared by a service.
