In many countries wealth is also measured by reference to access to essential services such as health care, or the possession of crops and livestock. An individual who is wealthy or rich is someone who has accumulated substantial wealth relative to others in their society or reference group.

The term implies a social contract on establishing and maintaining ownership in relation to such items which can be invoked with little or no effort and expense on the part of the owner (see means of protection).

The concept of wealth is relative and not only varies between societies, but will often vary between different sections or regions in the same society. For example, a personal net worth of US $1,000,000 in most parts of the United States Midwest would certainly place a person among the wealthiest citizens, yet the same net wealth would be considered quite modest on New York City's Upper East Side or in the Connecticut suburbs. However, such amounts would constitute extraordinary wealth in impoverished developing countries.

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