Income And Wealth Quizlet

Start studying income and wealth inequality.

Income and wealth quizlet. Start studying wealth and income. 1 wealth is the net worth of a person the total value of his assets minus his liabilities while income is the amount of money that a person received in return for his services sale of goods or profit from investments. Conversely wealth is accumulated over time i e. Wealth holding differentials as wealth generates differences in income in the form of profit interest and 2.

Learn vocabulary terms and more with flashcards games and other study tools. The creation of wealth takes time. Start studying sociology inequality of wealth and income. The value of assets owned.

2 wealth takes a huge amount of time to acquire while income is earned immediately. Learn vocabulary terms and more with flashcards games and other study tools. On the other hand wealth is the market price of the stock of asset possessed by an individual or household. Start studying income and wealth.

Income is earned or received during a limited period. Income is the flow of money obtained from factors of production. Learn vocabulary terms and more with flashcards games and other study tools. Learn vocabulary terms and more with flashcards games and other study tools.

Money received especially on a regular basis for work or through investments. Differences in the composition of households some households have three workers some households have only one worker 3.