True or false - if you want to make a lot of money you need to figure out how to help people a lot?

And explain please?True or false - if you want to make a lot of money you need to figure out how to help people a lot?
Not so much, even if you do manage to be greatly helpful in a new way. To get ';a lot of money'; there must be some kind of monopoly. If you have a skill that people can't copy then that will work. Or if you own the oil then that's another way because people cant just make oil. But if you are a barber then your rate will compete with other barbers. So work will likely compete and owning resources or monopoly/cartel can raise prices high enough to ';...make a lot of money...';.





However if taxes and land rent are not too high then even labor in competition will still be satisfactory compensation.True or false - if you want to make a lot of money you need to figure out how to help people a lot?
False. Some people make money by producing something that people need or want. But others don't. For instance the creators and sellers of Credit Default Swaps (financial derivitives) made a lot of money but almost destroyed the world financial system.





Ideally though, it's better to make money by filling a need.
no one economics theory which support that statement... But, I think some people believe that... It's why some company have corporate social responsibility program or corporate philanthrophy.