xosgnzlz
xosgnzlz xosgnzlz
  • 22-09-2021
  • Social Studies
contestada

What is the difference between wealth and income ?

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imonthenextlevel
imonthenextlevel imonthenextlevel
  • 22-09-2021
Income is the money (annual earnings) that you make at your job, while wealth is what you own. Wealth is your net worth that includes the value of all of your assets minus your financial liabilities.
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Pauls32a
Pauls32a Pauls32a
  • 22-09-2021

Answer:

Income is the flow of money that comes into a household from employers, owning a business, state benefits, rents on properties, and so on. Wealth essentially represents people's savings and it's typically higher – and spread out more unevenly – than income.

Explanation:

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