What is the difference between wealth and income, Business Economics

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What is the difference between wealth and income?

Difference between wealth and income:

• Wealth, which is a stock value that is the current value of assets for example bank balances, property and shares for example, £100,000

• Income is a flow value that is earnings per period of time for example £12,000 a year

• Income inequality is as significant a factor in causing poverty as low incomes.

• Growth that only benefits the rich is not sustainable growth.

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